Renewable energy specialist Masdar has signed a memorandum of understanding with Malaysian investment company Citaglobal to develop 2GW of solar, wind and energy storage projects.
Abu Dhabi-based Masdar said the schemes would be built in the state of Pahang on the Malaysian peninsula east of Kuala Lumpur.
Citiglobal chairman Tan Sri said the collaboration would help Malaysia make faster progress towards its target of achieving net-zero emissions by 2050.
According to the International Renewable Energy Agency, Malaysia has the potential to generate some 337GW of electricity from solar sources.
Sri said the deal would help Malaysia export to Central Asia. Masdar has an extensive portfolio in Uzbekistan after adding 2GW of projects in May.
Mohamed Jameel Al Ramahi, Masdar’s chief executive, added: “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.”
Elsewhere in Southeast Asia, Masdar has developed the 145MW Cirata Floating Solar PV plant in Indonesia.
In February, it entered the geothermal energy sector through a strategic investment in Indonesia’s Pertamina Geothermal.
Masdar is owned by the Abu Dhabi National Oil Company.
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