UAE’s Masdar Commits USD 8 Billion Investment in Malaysia’s Renewable Energy Development

November 2023

Malaysia is set to expedite its shift towards renewable energy with an investment of USD 8 billion from Masdar, one of the world’s leading renewable energy companies based in Abu Dhabi. This strategic partnership is geared towards the development of up to 10 gigawatts of renewable energy projects in Malaysia.

The commitment was formalized by the Malaysian Investment Development Authority (MIDA), the principal investment promotion agency through a memorandum of understanding (MoU) with Masdar. The projects encompass a range of initiatives, including ground-mounted, rooftop, and floating solar power plants, onshore wind farms, and battery energy storage systems, with a bold completion goal set for the year 2035.

This partnership represents a crucial step toward realizing a sustainable and greener future for Malaysia, aligning with the country’s National Energy Transition Roadmap. Masdar’s commitment goes beyond financial investment, as it pledges to utilize its expertise and cutting-edge technologies to propel Malaysia toward its renewable energy targets, including achieving 70% renewable energy installed capacity and net-zero emissions by 2050.

(Sources: Power Technology; Arab News)

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