Masdar eyes 2 GW in Malaysia through partnership with Citaglobal

Abu Dhabi Future Energy Company, or Masdar, said on Monday it has signed a memorandum of understanding (MoU) with Malaysia’s Citaglobal Bhd (KLSE:CITAGLB) for the potential development of 2 GW of clean energy in Malaysia.

The companies intend to jointly develop projects across a range of renewable energy technologies including solar, battery energy storage system (BESS) and wind, targeting the Malaysian state of Pahang.

In a separate announcement on Friday, Citaglobal said that the MoU will enable the company “to explore and strengthen the development of a 2-GW solar farm (landed and floating) in the state of Pahang, Malaysia that will cater to the local and export renewable energy markets.” The parties will also discuss the deployment of Citaglobal's BESS solutions at Masdar facilities globally.

Coming ahead of the UAE hosting COP28 later in 2023, the agreement expands Masdar’s presence in Southeast Asia. It was signed by Masdar’s head of development and investment Abdulla Zayed and Citaglobal’s executive chairman and president Mohamad Norza Zakaria at a ceremony in Malaysia attended by the Minister of Investment, Trade and Industry Malaysia and the UAE Ambassador to Malaysia.

The Asian country aims to achieve net-zero emissions by 2050.