Tenaga Nasional Berhad (TNB), Malaysia's leading utility provider, considers data centres as prime customers for its infrastructure initiatives due to their exceptional return on investment (ROI). "Data centres are our ideal customers for infrastructure development because they promise excellent ROI," said TNB president and CEO Datuk Megat Jalaluddin Megat Hassan during a panel discussion at the Malaysia Economic Forum 2025 on Thursday. Megat Jalaluddin highlighted that the steady energy usage of data centres, evidenced by their consistent load factor throughout the day, makes them particularly favorable clients.

Although data centres significantly increase power demand, Megat Jalaluddin assured that TNB's planned grid upgrades will accommodate this growth. Previously, TNB projected that electricity demand from data centres could reach 5,000MW by 2035, comprising 15-20% of the nation's total electricity demand at that time. More recently, the Ministry of Energy Transition and Water Transformation estimated that data centre electricity demand could soar to 20.9GW by 2040. For context, the country's peak energy demand last year reached 20,066MW on July 25, as reported by the ring-fenced Single Buyer within TNB, which oversees electricity purchases from power generators.

TNB Considers Nuclear Energy
Megat Jalaluddin shared that TNB views nuclear energy as a viable option to replace coal-based power generation. "This is a technological avenue worth exploring if we are moving away from coal, unless carbon capture technology becomes a viable solution," he explained. He emphasized the importance of finding new, clean energy sources, adding, "Nuclear power is a potential clean energy alternative that the country can consider and possibly adopt in the future." On Thursday, TNB's shares dropped by 20 sen or 1.4%, closing at RM14.12, with a market capitalization of RM82.31 billion. Despite this, the stock has surged over 33% in the past year.