REDEX has been named the exclusive partner of TNBX to support the development of the Malaysia Green Attribute Trading System (mGATS) into the nation’s premier digital trading platform for Malaysia Renewable Energy Certificates (mREC).
The mGATS platform, originally launched five years ago as an information hub for RECs, is undergoing a major transformation with the help of REDEX’s innovative technological solutions. This collaboration aims to introduce live trading and auction capabilities, providing businesses with a transparent and convenient method to meet their renewable energy commitments.
Kang Jen Wee, Founder and CEO of REDEX, expressed enthusiasm about the partnership: “REDEX is honored to be chosen by TNBX for this pivotal project. We are excited to contribute to Malaysia’s sustainable future, leveraging our technological expertise to create a robust platform that facilitates renewable electricity certification.”
REDEX’s involvement is set to significantly enhance the functionality of mGATS, ensuring that users have access to real-time trading data and transparent pricing for mRECs. This upgrade is expected to accelerate the adoption of renewable energy among Malaysian businesses, aligning with the country’s broader environmental objectives.
TNBX, a wholly-owned subsidiary of Malaysia’s leading utility company Tenaga Nasional Berhad (TNB), plays a crucial role in providing comprehensive mREC solutions for consumers and businesses across the country. Ir. Mohd Razif Abd Halim, Managing Director of TNBX, highlighted the strategic importance of this initiative: “The revamped mGATS represents a major milestone in our journey towards a low-carbon energy future. This initiative is in line with the National Energy Transition Roadmap (NETR) and will support Malaysia’s ambition to achieve net-zero carbon emissions by 2050.”
He added, “We are pleased to have REDEX as our exclusive partner. Their experience in the REC industry will be invaluable as we develop a world-class platform for corporate and industrial entities in Malaysia. TNBX remains committed to delivering practical and user-friendly renewable energy solutions to our customers.”
