REDEX partners with TNBX for Malaysia's mGATS platform
SINGAPORE, May 20, 2024
REDEX will be an exclusive partner to TNBX to support the development of the Malaysia Green Attribute Trading System (mGATS) into the country’s preeminent digital trading platform for Malaysia Renewable Energy Certificates (mREC).
The upgraded platform will provide a new avenue for businesses to conveniently pursue their renewable energy commitments and accelerate the nation’s pursuit of a sustainable energy future.
Launched five years ago as an information hub on RECs, the revamped mGATS will leverage REDEX’s innovative technological solutions to facilitate live trading and auctions while providing users with price transparency for mRECs acquisition.
REDEX Founder and CEO Kang Jen Wee said, “REDEX is honoured to be chosen by TNBX as a partner for the development of mGATS into a premier digital trading platform for the Malaysian market. We are excited to be part of the country’s journey to create a sustainable future for current and future generations.
“This collaboration also deepens our presence in Malaysia and highlights our innovative technological solutions to the wider REC industry. It also paves the way for deploying such similar proven solutions in other countries. Utilising our expertise and experience, REDEX will work closely with TNBX to enable more renewable electricity certification in Malaysia.”
A wholly-owned subsidiary of Malaysia’s leading utility company Tenaga Nasional Berhad (TNB), TNBX is the premier one-stop mREC solutions provider for Malaysian consumers and businesses.
TNBX Managing Director, Mohd Razif Abd Halim said, “The revamped mGATS is a significant step forward in Malaysia’s journey towards low carbon energy future. In line with the National Energy Transition Roadmap (NETR), this initiative will promote renewable energy and bolster the country’s ambition to achieve net zero carbon emissions by 2050. --TradeArabia News Service
