* Venture capital fund to finance projects in SE Asia
* GE, TNB agree to collaborate on Malaysian smart grid
LONDON, Sept 23 Malaysia and Japan-based Asian
Energy Investments Pte Ltd. have launched a $100 million venture
capital fund to invest in clean energy projects in South East
Malaysia's Prime Minister Najib Razak announced the launch
of the fund on Monday at a meeting of sustainable development
experts in San Francisco in the United States.
Malaysian fund management company Putra Eco Ventures Inc.
will channel the fund's investments into small and medium-sized
companies and technologies such as wind, solar or tidal energy.
It will also help find cheaper biodiesel feedstocks for
Malaysian biodiesel plants which have been idled because they
rely on expensive crude palm oil.
"We hope to (..) further transform Malaysia into a
knowledge-based, innovation-driven economy that is
environmentally friendly while aiming to join the ranks of
developed nations," Prime Minister Razak said.
Separately on Monday, General Electric, Malaysia's
largest utility Tenaga Nasional Berhad and government
agency GreenTech Malaysia agreed to collaborate on developing a
Malaysian smart grid.
A smart grid is a modernised electricity device which uses
information technology to collect data about the energy use of
consumers and suppliers to improve the efficiency of electricity
production and reduce energy consumption.
Malaysia aims to reduce its carbon emissions by 40 percent
by 2020 from 2005 levels and increase its renewable energy
capacity to 4,000 megawatts by 2030.