UAE’s Masdar, Citaglobal Berhad to develop renewable energy projects in Malaysia

UAE’s Masdar, Citaglobal Berhad to develop renewable energy projects in Malaysia

Abu Dhabi-based clean energy giant Masdar has signed an agreement with Citaglobal Berhad to develop a range of renewable energy projects in Malaysia, including rural, off-grid initiatives.

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 companies will develop projects in the Malaysian state of Pahang that will include solar, battery energy storage system (BESS), wind and other renewable energy technologies.

The MoU will also facilitate 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 has invested, or committed to invest, in worldwide projects with a combined value of more than $30 billion, with growth plans to reach 100GW and one million tonnes of green hydrogen by 2030.

(Writing by Bindu Rai, editing by Daniel Luiz)

([email protected])

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2023