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Masdar’s $8bn to add 10GW to Malaysia’s renewable goal

Mida CEO Datuk Wira Arham Abdul Rahman and Masdar CEO Mohamed Jameel Al Ramahi sign the renewable energy agreement between Masdar and Malaysia Masdar
Mida CEO Datuk Wira Arham Abdul Rahman and Masdar CEO Mohamed Jameel Al Ramahi sign the renewable energy agreement between Masdar and Malaysia

Abu Dhabi state clean energy company Masdar will invest $8 billion for producing up to 10 gigawatts (GW) of renewable energy projects to help Malaysia realise its sustainable energy goal.

The collaboration with state-owned Malaysian Investment Development Authority (Mida) will facilitate Masdar to develop up to 10GW by 2035 through ground mounted, rooftop and floating solar power plants, onshore wind farms and battery energy storage systems.

Sultan Al Jaber, UAE minister of industry and advanced technology, chairman of Masdar and Cop28 president-designate, said the agreement will see the UAE and Malaysia deepen their partnership in the development of renewable energy, directly supporting the nation’s National Energy Transition Roadmap. 

MW Energy, a joint venture between Masdar and W Solar Investment, earlier this month said it was exploring floating solar power and hydropower projects in landlocked and water-abundant Tajikistan.

The joint venture signed an agreement with Tajikistan’s ministry of energy and water resources with plans to develop at least 500MW capacity of clean energy.

Established in 2006, Masdar is active in more than 40 countries and is targeting a renewable energy portfolio capacity of at least 100GW by the end of the decade.

The UAE will host Cop28 from November 30 to December 12, 2023, at Expo City Dubai.

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