Masdar, a pioneer in clean & sustainable energy in the UAE, has signed a memorandum of understanding (MoU) with Citaglobal Berhad. The MoU covers the joint development of renewable energy projects across Malaysia’s solar, battery energy storage system, wind and other renewable energy technologies.
The two companies will join forces to develop renewable energy projects in the Malaysian state of Pahang, helping with Malaysia’s target of net-zero emissions by 2050.
Masdar’s Head of Development and Investment, Abdulla Zayed, signed the agreement in Malaysia with Citaglobal’s Executive Chairman and President, Tan Sri (Dr) Mohamad Norza Zakaria. The signing ceremony was witnessed by the Minister of Investment, Trade and Industry Malaysia (MITI), Yang Berhormat Mulia Datuk Seri Utama Tengku Zafrul Aziz, and the UAE Ambassador to Malaysia, HE Khalid Ghanim Mohammed Alghaith.
“Masdar is excited to be partnering with Citaglobal Berhad and to be expanding our 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.”
Mohamed Jameel Al Ramahi, Masdar’s Chief Executive Officer.
“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 between Masdar and Citaglobal related to technology solutions and equipment supply outside of Malaysia, focusing on Central Asia.”
Tan Sri (Dr) Mohamad Norza Zakaria, Citaglobal Berhad Executive Chairman and President.
Southeast Asia is a key investment destination for Masdar, they’ve developed the region’s largest floating solar facility in Indonesia. This solar facility is a 145MW Cirata Floating Solar PV plant that can generate enough electricity to power 50,000 homes. In February 2023, Masdar began work in the geothermal energy sector with an investment into Indonesia’s Pertamina Geothermal Energy. To help strengthen links in this region an office was opened, in 2010, in Indonesia’s largest city, Jakarta.
Established in 2006, Masdar is active in more than 40 countries with a total electricity generation capacity of more than 20GW. It has invested in worldwide projects with a combined value of more than US$30 billion with ambitious growth plans to reach 100GW and 1 million tonnes of green hydrogen by 2030.
