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

Image: Masdar

Abu Dhabi Future Energy Company (Masdar) and Citaglobal Berhad have signed a memorandum of understanding (MoU) for the joint development of renewable energy projects across solar, battery energy storage system (BESS), wind and other renewable energy technologies.

The companies will join hands to develop projects across the renewable energy mix in Pahang, Malaysia. This includes exploring solar, battery energy storage system, wind and other renewable energy technologies. The country is targeting net-zero emissions by 2050.

Mohamed Jameel Al Ramahi, Masdar’s chief executive officer, said the company was excited to be partnering with Citaglobal Berhad and to be expanding its presence in the key Southeast Asian market. “We look forward to pioneering energy solutions to reduce emissions in Malaysia and the region. As the UAE looks ahead to hosting the UN climate change conference, COP28, later this year, Masdar is proud to be working with partners to advance clean energy solutions around the world.”

Citaglobal Berhad executive chairman and president, Tan Sri (Dr) Mohamad Norza Zakaria, commented, “By collaborating with a leading energy transition player, we will make faster progress towards our climate targets, besides building our long term energy requirements in a responsible and cost efficient manner.

“The MoU will also facilitate the potential collaboration related to technology solutions and equipment supply outside of Malaysia with a focus on Central Asia.”

#Masdar signs MoU with #CitaglobalBerhad to explore the development of 2GW #RenewableEnergy projects including rural, off-grid initiatives in the picturesque #Malaysian state of Pahang. pic.twitter.com/xBm3FMiOUS

— Masdar (@Masdar) July 31, 2023

Key market for Masdar

Southeast Asia is a key investment destination for Masdar. The company has developed the region’s largest floating solar facility in Indonesia – the 145MW Cirata Floating Solar PV plant – which will generate enough electricity to power 50,000 homes.

In February, the UAE’s clean energy powerhouse entered the geothermal energy sector through a strategic investment in Indonesia’s Pertamina Geothermal Energy.

The company opened an office in Jakarta, Indonesia, in 2021 to further strengthen links with key players within the region.

In recent news, Masdar and Iberdrola agreed to co-invest in the 476-megawatt (MW) Baltic Eagle offshore wind farm in the German Baltic Sea. Iberdrola will retain a majority 51 per cent stake in the asset, which will help to accelerate green energy security in Europe.