Abu Dhabi Future Energy Company PJSC, Masdar, and Citaglobal Berhad, have signed a memorandum of understanding for the joint development of a range of renewable energy projects across Malaysia including solar generation, battery energy storage system (BESS), wind and other renewable energy technologies.
Masdar and Citaglobal intend to develop projects across the renewable energy mix in the Malaysian state of Pahang. Malaysia’s national policy is targeting net-zero emissions by 2050.
Mohamed Jameel Al Ramahi, Masdar’s CEO, said, “Masdar is expanding its presence in the key Southeast Asian market. We look forward to pioneering energy solutions to reduce emissions in Malaysia and the region. As the UAE looks ahead to hosting the UN climate change conference, COP28, later this year, Masdar is proud to be working with partners to advance clean energy solutions around the world.”
Southeast Asia is a key investment destination for Masdar. The company has developed the region’s largest floating solar facility in Indonesia – the 145MW Cirata Floating Solar PV plant. In February this year it entered the geothermal energy sector through a strategic investment in Indonesia’s Pertamina Geothermal Energy. Masdar opened an office in Jakarta, Indonesia, in 2021 to further strengthen links with key players within the region.
Established in 2006, Masdar has invested, or committed to invest, in worldwide projects with a combined value of more than US$30 billion with ambitious growth plans to reach 100GW and 1 million tonnes of green hydrogen by 2030.