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Masdar to develop 10 GW of renewable energy projects in Malaysia

UAE-based Masdar has signed a memorandum of understanding with the Malaysian Investment Development Authority (MIDA) for 10 GW of renewable energy projects. The agreement includes the development of solar plants, floating solar plants, onshore wind farms and battery storage systems.

Image: MasdarImage: Masdar

Masdar plans to invest $8 billion in renewable energy projects with a capacity of up to 10 gigawatts in Malaysia by 2035 as part of a strategic partnership that will contribute significantly to the country's sustainable energy transition.

Speaking at the signing ceremony, H.E. Dr. Sultan Al Jaber, UAE Minister of Industry and High Technology, Chairman of Masdar and President-elect of COP28, said, “This important agreement will see the UAE and Malaysia deepen our partnership in the development of renewable energy, directly supporting the nation’s National Energy Transition Roadmap. Ahead of the UAE hosting COP28, it further demonstrates Masdar’s and the UAE’s commitment to supporting countries across the world, decarbonizing economies at home and abroad, for a just and inclusive energy transition.”

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, added: "As a global clean energy pioneer with a proven track record in the commercialization and deployment of renewable and clean energy projects, Masdar is proud to play our part in helping Malaysia achieve its ambitious target of 70 percent renewable energy installed capacity and net-zero emissions by 2050."

Windfair Editors
Masdar, Malaysia, signing, MoU, renewable energy, solar farm, wind farm, onshore, floating, battery, development, investment, 2035

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