MIDA and Masdar sign 10 GW renewables agreements

5 December 2023

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.

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