Abu Dhabi Future Energy Company Masdar has agreed to advance the development of 10GW of clean energy projects in Malaysia.
The implementation roadmap, signed with the Malaysian Investment Development Authority (MIDA) to develop up to 10GW of renewable energy projects, including ground mounted, rooftop and floating solar power plants, onshore wind farms and battery energy storage systems, follows the signing of a memorandum of understanding in October.
The agreement was exchanged between Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, and Datuk Wira Arham Abdul Rahman, Chief Executive Officer of MIDA – paving the way for five additional agreements to develop new solar and wind energy projects in Malaysia.
Together, these five deals will unlock up to 8GW of clean energy across the Southeast Asian nation and include a joint development agreement for 2GW of solar plants with Citaglobal Berhad & Tiza Global in Malaysia, collaboration agreement with Tadau Energy and PSK to develop 2GW of wind power and a Strategic Memorandum of Understanding with Cypark Resources Berhad for up to 1GW of renewable energy projects in that country.
Also entered into is an agreement with Malakoff to develop solar photovoltaic power projects development with a targeted aggregate capacity of up to 1GW. A Memorandum of Understanding has been signed with Citaglobal Berhad and TNB Renewables to develop 2GW of renewable energy projects.
These agreements, signed at COP28, demonstrate Masdar’s ongoing commitment to Malaysia and to supporting the country’s ambitious target of 70 percent renewable energy installed capacity and net-zero emissions by 2050.
Also published on Medium.
Follow Arabian Post
Select Arabian Post as your preferred source on Google and MSN News for trusted business news and Arab politics and updates.
