UAE and Malaysia have joined hands to advance development of 10GW of clean energy projects in Malaysia.
The implementation roadmap was signed between Abu Dhabi Future Energy Company PJSC (Masdar) and Malaysian Investment Development Authority (MIDA). The agreement was inked by Chief Executive Officer of Masdar, Mohamed Jameel Al Ramahi and Chief Executive Officer of MIDA, Datuk Wira Arham Abdul Rahman.
President of the United Arab Emirates (UAE) Sheikh Mohamed bin Zayed Al Nahyan and Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah witnessed the signing.
According to the roadmap, they will develop ground-mounted, rooftop and floating solar power plants, onshore wind farms and battery energy storage systems.
A local report mentioned, “it has also paved the way for five additional agreements to develop new solar and wind energy projects in Malaysia.” The agreements will unlock up to 8GW of clean energy across the country.
According to the implementing companies, the Joint Development Agreement are for 2GW of solar plants with Citaglobal Berhad Tiza Global, Collaboration Agreement with Tadau Energy and PSK to develop 2GW of wind power and Strategic MoU with Cypark Resources Berhad for up to 1GW of renewable energy projects, solar PV power projects of up to 1GW and MoU with Citaglobal Berhad and TNB Renewables to develop 2GW of renewable energy projects.
The agreements come at a time when Malaysia has set a target to achieve 70 percent renewable energy capacity and net-zero emissions by 2050.