It has set a target price of RM14.50 per share for TNB. In a separate note, TA Research said TNB expects to sign ESAs for another 10 projects in 2024, with above 2,000MW of total energy demand.

In the renewable space, it has a portfolio totaling 3,119MW across Malaysia, including 2,536MW of large hydro. TNB also transmits and distributes all the electricity in Peninsular Malaysia, Sabah, and ...