English

  • Financial Performance: Tenaga Nasional Bhd (TNB) achieved record earnings in 2024, with its share price rallying 50% last year to exceed RM15.
  • Growth Drivers: Total shareholder return reached 19.23% per annum over three years; net profit grew at a CAGR of 8.7% between FY2021 and FY2024.
  • Demand Surge: Electricity sales rose to 138,539 GWh in 2024, with peak demand hitting 21.05 GW in May 2026, largely fueled by rapid data center expansion.
  • Infrastructure Investment: Under the new Regulatory Period 4 (RP4) starting July 2025, TNB has been allocated RM26.55 billion in base capital expenditure and RM16.27 billion in contingent capex to strengthen grid infrastructure.
  • Renewable Transition: TNB’s renewable energy (RE) generation capacity reached 4.5 GW by mid-2026, representing 22% of its total portfolio.
  • Regional Connectivity: The company is leading cross-border projects, including the Asean Grid, to enhance regional energy security and renewable potential.

中文 (Chinese)

  • 财务表现： 国家能源公司 (TNB) 在 2024 年实现创纪录的盈利，其股价去年上涨 50%，首次突破 15 令吉。
  • 增长动力： 三年内股东总回报率达到每年 19.23%；2021 财年至 2024 财年期间，净利润复合年增长率 (CAGR) 为 8.7%。
  • 需求激增： 2024 年电力销售额增至 138,539 GWh，2026 年 5 月高峰需求达到 21.05 GW，主要受数据中心快速扩张推动。
  • 基础设施投资： 在 2025 年 7 月生效的第四监管期 (RP4) 下，TNB 获准投入 265.5 亿令吉的基础资本支出和 162.7 亿令吉的或有资本支出，以强化电网基础设施。
  • 可再生能源转型： 截至 2026 年年中，TNB 的可再生能源发电装机容量达到 4.5 GW，占其总投资组合的 22%。
  • 区域互联： 公司正主导包括“东盟电网”在内的跨境电力项目，以提升区域能源安全和可再生能源潜力。