Masdar Commits to Advance 10GW Clean Energy Projects in Malaysia

Masdar and MIDA

Abu Dhabi Future Energy Company, Masdar, has solidified its commitment to bolster Malaysia’s renewable energy landscape by signing an agreement aimed at advancing the development of up to 10 gigawatts (GW) of clean energy projects in the country. This significant stride builds upon a preliminary accord earlier this year, marking a pivotal phase in sustainable energy collaboration between the two nations.

Masdar’s recent announcement unveiled an “implementation roadmap” forged in partnership with the Malaysian Investment Development Authority (MIDA). The roadmap outlines a strategic blueprint encompassing a diversified portfolio of projects, including solar power plants, wind farms, and battery energy storage systems, symbolizing a substantial leap toward a sustainable energy future in Malaysia.

“The signing of this implementation roadmap represents an important progression in the partnership between the UAE and Malaysia in the development of renewable energy projects,” highlighted Sultan Al Jaber, Chairman of Masdar and President of COP28, during the launch event held in Dubai.

Notably, Malaysia’s Prime Minister Anwar Ibrahim had previously estimated the value of the agreement with Masdar for renewables projects in the country at $8 billion, signaling a robust commitment towards clean energy integration.

The collaborative efforts between the UAE and Malaysia reflect the burgeoning trade and investment relations, aligning with the Gulf state’s strategic initiative to diversify its economic landscape away from traditional oil and gas reliance. Concurrently, negotiations for a bilateral free trade agreement between the two nations are underway, further fortifying this burgeoning partnership.

Masdar, since its inception in 2006, has set ambitious targets for renewable energy expansion, aiming for a portfolio capacity of at least 100 GW and an annual green hydrogen production capacity of up to 1 million tonnes by 2030, marking a significant contribution to the global sustainable energy transition.

The recent agreements unveiled at COP28 showcase Masdar’s unwavering commitment to Malaysia’s renewable energy journey. These pacts, involving key entities like Citaglobal Berhad, Tiza Global, Tadau Energy, PSK, Cypark Resources Berhad, and Malakoff, aim to unlock up to 8GW of clean energy across Malaysia, encompassing solar, wind, and other renewable energy projects.

Southeast Asia remains a focal point for Masdar’s investment endeavors. Besides its commitments in Malaysia, Masdar has notably spearheaded the development of Southeast Asia’s largest floating solar facility in Indonesia, the 145MW Cirata Floating Solar PV plant, poised to power approximately 50,000 homes upon completion. Moreover, Masdar expanded its reach into the geothermal energy sector through a strategic investment in Indonesia’s Pertamina Geothermal Energy in February 2023.

With an illustrious track record spanning over 40 countries and a cumulative electricity generation capacity exceeding 20GW, Masdar has solidified its position as a global leader in sustainable energy initiatives. The company’s investments, surpassing a combined value of over US$30 billion, coupled with ambitious growth plans, underscore its relentless pursuit to achieve 100GW capacity and 1 million tonnes of green hydrogen production by 2030, amplifying its pivotal role in shaping a sustainable energy future.

Image: UAE President, Mohamed bin Zayed Al Nahyan; King of Malaysia, Al-Sultan Abdullah Sultan Ahmad Shah; Citaglobal Executive Chairman and President, Tan Sri Mohamad Norza Zakaria; and Chief Executive Officer of Masdar, Mohamed Jameel Al Ramahi