Masdar signs MoU with Malaysia to develop up to 10GW of renewable energy projects

Masdar signs MoU with Malaysia to develop up to 10GW of renewable energy projects

ABU DHABI, 9th October, 2023 (WAM) -- Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, has signed a Memorandum of Understanding (MoU) with the Malaysian Investment Development Authority (MIDA) to invest US$8 billion for up to 10 gigawatts (GW) of renewable energy projects in a strategic partnership that will significantly contribute to Malaysia's sustainable energy transformation.

The collaboration marks an important milestone in the pursuit of a sustainable and greener future for Malaysia. MIDA will facilitate Masdar to develop up to 10 gigawatts (GW) of renewable energy projects by 2035, to include ground mounted, rooftop and floating solar power plants, onshore wind farms and battery energy storage systems.

The signing was witnessed by the Prime Minister of Malaysia, The Honorable Dato’ Seri Anwar Ibrahim; Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and COP28 President-Designate; Ahmed bin Ali Al Sayegh, UAE Minister of State; Malaysia’s Minister of Investment, Trade and Industry (MITI), Senator Tengku Datuk Seri Utama Zafrul Aziz; Malaysia’s Minister of Foreign Affairs, HE Dato’ Seri Diraja Dr Zambry Abdul Kadir; and the Ambassador of Malaysia to the UAE, HE Datuk Seri Ahmad Fadil bin Shamsuddin.

The MoU was signed by