Abu Dhabi Future Energy Company PJSC – Masdar has signed the implementation roadmap with the Malaysian Investment Development Authority (MIDA)
In the presence of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Majesty Al-Sultan Abdullah Sultan Ahmad Shah, King of Malaysia, Abu Dhabi Future Energy Company PJSC – Masdar, has signed an implementation roadmap with the Malaysian Investment Development Authority (MIDA) to advance the development of 10GW of clean energy projects in Malaysia.
The implementation roadmap, which includes plans to develop 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 signed by 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:
– 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 in Malaysia.
– Strategic Memorandum of Understanding with Cypark Resources Berhad for up to 1GW of renewable energy projects in Malaysia.
– Heads of Agreement with Malakoff to develop solar photovoltaic power projects with a targeted aggregate capacity of up to 1GW.
– Memorandum of Understanding 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 READ: UAE, Brazil, Paraguay Ink Deal on Bi-Oceanic Corridor