December 1, 2023
1 min read

UAE, Malaysia Advance Deal On 10GW Clean Energy Projects

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

Previous Story

UAE, Brazil, Paraguay Ink Deal on Bi-Oceanic Corridor

Next Story

Pakistan on Track for UNSC Seat, Could Influence Anti-Terror Measures

Latest from -Top News

Trump-Putin bhai, bhai

The closer Trump and Putin get Britain, France and other Western countries which, since the end of the Second World War, have seen America as an ally, will have to rethink their

Mali embraces solar power for rural areas  

The border village of Karan and its 3,000 people used to go days without electricity. Now, enough power is available around the clock to run small video gaming centers and boost commercial

British exports shine in African infrastructure 

Established 18 years ago, Dints is a London-based project integrator that specialises in connecting buyers, suppliers, logistics providers, and funding partners  A significant partnership between UK Export Finance (UKEF) and British firm
Go toTop

Don't Miss

IMF lauds UAE economy’s quick survival from COVID-19

According to the latest IMF review, the UAE GDP growth

1B Followers Summit Unites Global Content Creators From 95 Countries

The summit will offer participants a journey through 5 distinctive