.jpg)
Sarawak Energy generates most of its power from hydropower. (Photo: iStock)
Sarawak Energy, Malaysia’s state-owned utility, is reportedly considering a listing of its generation business, which could rank among the largest IPOs in the country in recent years. The company exports power to Indonesia and intends to extend supplies to Brunei, Sabah, and Singapore, reflecting its regional renewable energy ambitions.
Financing growth through potential IPO
The company is targeting 10 GW of generation capacity by 2030 and 15 GW by 2035, up from about 6 GW currently. To reach those targets, a RAM Ratings report suggests Sarawak Energy will need to almost double its annual capital expenditure to around RM4.5 billion (USD1.08 billion). The potential listing is expected to introduce private investment and provide funding for the company’s long-term capacity goals.
