TNB unit buys nearly 50% stake in offshore wind firm BODL

This will add five turbines with a total capacity of 41.5MW to its assets amongst others. 

Tenaga Nasional Berhad (TNB) subsidiary Vantage Re Ltd. acquired a 49% stake in an offshore wind farm company, Blyth Offshore Demonstrator Limited (BODL). 

The acquisition marks TNB’s entry into the international market as BODL’s offshore wind assets are located in Blyth, Northumberland, England. 

The deal will add five turbines with a total installed capacity of 41.5 megawatts (Blyth1) to TNB’s renewable energy portfolio. 

It will also grant TNB development rights for a floating offshore wind project of up to 58.4MW (Blyth 2), located off the Northumberland coast. 

The TNB had announced its Sustainability Pathway which outlines its goals to achieve net-zero emissions by 2050.

The Pathway is underpinned by a commitment to reduce 35% of TNB’s emissions intensity as well as 50% of coal generation capacity by 2035. In line with this, TNB launched Vantage RE in July 2021 to own, operate and manage TNB’s portfolio of renewable energy assets in the United Kingdom and Europe. 

To date, it so far has a 530.4MW renewable energy portfolio including offshore wind, onshore wind, and solar farms in the UK. As of December 2021, TNB has a total RE capacity of 3,487.2MW including 2,771.4MW in Malaysia and 715.8MW across the UK, Turkey, and India. It is targeting to grow its RE capacity to 8,300MW by 2025.