• Loading stock data...
 MASDAR to Develop 2 GW Solar Farm in Malaysia


MASDAR to Develop 2 GW Solar Farm in Malaysia

Malaysia-based Citaglobal Bhd and its subsidiary companies, in collaboration with Abu Dhabi Future Energy Company (MASDAR), a leading clean energy company, have signed a Memorandum of Understanding (MoU) to jointly pursue renewable energy projects encompassing solar, battery energy storage system (BESS), wind, and other renewable technologies.

The MoU aims to foster potential collaborations in renewable energy development within Malaysia, particularly in the state of Pahang. Citaglobal Group will be empowered to enhance and strengthen the realization of a 2GW Solar Farm, comprising both landed and floating solar installations, catering to local and international renewable energy markets.

The signing ceremony took place in Malaysia with Abdulla Zayed, MASDAR’S Head of Development and Investment, along with Citaglobal’s Executive Chairman and President Tan Sri Mohamad Norza Zakaria. The agreement aims to explore and develop clean energy initiatives that will contribute to sustainable and eco-friendly solutions.

Citaglobal and Masdar are set to embark on a collaborative journey to develop a range of renewable energy projects in Pahang. This partnership will implement initiatives in solar, battery energy storage system (BESS), wind, and other renewable energy technologies. Malaysia’s ambitious target of achieving net-zero emissions by 2050 provides a compelling backdrop to these green endeavours.

Yang Berhormat Mulia Datuk Seri Utama Tengku Zafrul Aziz, the Minister of Investment, Trade, and Industry Malaysia (MITI), and Khalid Ghanim Mohammed Alghaith, the UAE Ambassador to Malaysia were among those present.

MASDAR is an investment vehicle of the Government of Abu Dhabi and is jointly owned by Mubadala Investment Company, Abu Dhabi National Oil Company (ADNOC) Group, and Abu Dhabi National Energy Company (TAQA).

With a global presence, MASDAR operates in more than 40 countries across six continents and has already committed to investments in projects totalling over $30 billion, boasting a combined capacity of more than 20 GW and the potential to offset 30 million tonnes of CO2 emissions annually.

Citaglobal’s involvement in this collaboration includes its wholly owned subsidiaries – Citaglobal Energy Sdn Bhd, Citaglobal Powergen Sdn Bhd, and Citaglobal Genetec BESS Sdn Bhd (CG BESS). As joint partners with MASDAR, they are actively contributing to the advancement of renewable energy solutions in Pahang and beyond.

Hastens Progress

Tan Sri Mohamad Norza Zakaria said that over the past decade, MASDAR has pioneered commercially viable solutions in clean energy, sustainable real estate, and clean technology in the UAE and around the world.

“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,” Zakaria added.

Mohamed Jameel Al Ramahi, MASDAR’s CEO, said that they were looking 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.

“Southeast Asia is a key investment destination for MASDAR, and 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 2023, the UAE’s clean energy powerhouse entered the geothermal energy sector through a strategic investment in Indonesia’s Pertamina Geothermal Energy,” Mohamed Jameel added.

Furthermore, the MOU also opens up the possibility of collaboration between Masdar and Citaglobal beyond Malaysia’s borders, with a specific focus on technology solutions and equipment supply in the Central Asian region.

Global Business Magazine

Global Business Magazine

Related post

Leave a Reply

Your email address will not be published. Required fields are marked *