Abu Dhabi-based clean energy firm, Masdar, has signed an agreement with Malaysia’s Citaglobal Berhad to build multiple RE projects in Malaysia that includes rural, off-grid initiatives. To this end, an MoU was signed in Malaysia by Abdulla Zayed, Masdar’s Head of Development and Investment, and investment holding company, Citaglobal’s Executive Chairman and President, Tan Sri Mohamad Norza Zakaria.
The two firms plan to develop projects in the Malaysian state of Pahang that will include solar, battery energy storage system (BESS), wind and other renewable energy technologies.
“By collaborating with a leading energy transition player, we will make faster progress towards our climate targets, besides building our long-term energy requirements in a responsible and cost efficient manner,” said Mohamad Zakaria, Executive Chairman and president of Citaglobal Berhad.
There will be a focus on facilitating a potential collaboration between Masdar and Citaglobal related to technology solutions and equipment supply outside of Malaysia with a focus on Central Asia, according to Zakaria.
“Masdar is excited to be partnering with Citaglobal Berhad and to be expanding our presence in the key South-East Asian market,” said Mohamed Al Ramahi, Chief Executive of Masdar.
“We look forward to pioneering energy solutions to reduce emissions in Malaysia and the region.”
Moreover, Malaysia has set a RE target of providing 31 per cent of the nation’s energy needs by 2025 and 40 per cent by 2035. The government has pledged to raise renewable energy capacity to 70 per cent by 2050, aligning with the country’s net zero goals.
It may also be noted that Masdar has earmarked more than $30 billion,to implement its growth plans and to reach 100 GW and one million tonnes of green hydrogen by 2030.
