Masdar and the Malaysian Investment Development Authority have put together an implementation roadmap to advance 10 GW of clean energy projects in Malaysia, and signed five agreements unlocking up to 8 GW of renewable energy projects. The implementation roadmap, 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.
This has paved the way for five agreements to develop new solar and wind energy projects which together will develop up to 8 GW of clean energy across the country. There are joint development agreement for 2 GW of solar plants with Citaglobal Berhad & Tiza Global, and a collaboration agreement with Tadau Energy and PSK to develop 2GW of wind power, plus a Strategic Memorandum of Understanding with Cypark Resources Berhad for up to 1GW of renewable energy projects. Finally, Heads of agreement with Malakoff to develop solar photovoltaic power projects with a targeted aggregate capacity of up to 1GW and a Memorandum of Understanding with Citaglobal Berhad and TNB Renewables to develop 2GW of renewable energy projects.
These agreements, signed at COP28, will support the country’s ambitious target of 70 % renewable energy installed capacity and net-zero emissions by 2050.