Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, has signed a Memorandum of Understanding (MoU) with the Malaysian Investment Development Authority (MIDA) to invest US$8 billion (RM37 billion) for up to 10 gigawatts (GW) of renewable energy projects.
The collaboration marks an important milestone in the pursuit of a sustainable and greener future for Malaysia. MIDA will facilitate Masdar to develop up to 10 gigawatts (GW) of renewable energy projects by 2035, including ground-mounted, rooftop, and floating solar power plants, onshore wind farms, and battery energy storage systems.
Established in 2006, Masdar is active in more than 40 countries with a total electricity generation capacity of more than 20GW. It has invested, or committed to invest, in worldwide projects with a combined value of more than USD30 billion with ambitious growth plans to reach 100GW and 1 million tonnes of green hydrogen by 2030.
