Citaglobal Bhd and Masdar entered into a memorandum of understanding (MoU) with TNB Renewables Sdn Bhd (TRe), a wholly-owned subsidiary Tenaga Nasional Bhd (TNB), for a proposed strategic collaboration in the area of renewable energy projects including Project 2GW worth RM9.75 billion.
Citaglobal has received an expression of interest from TRe to participate in the development of renewable energy (RE) projects in Malaysia with potential areas of collaboration that include Project 2GW, a US$2 billion (RM9.75 billion) 2-gigawatt (2GW) solar farm project in Pahang.
A 60:40 consortium for Project 2GW, comprising UAE’s Masdar, Citaglobal and TIZA Global, had been formalised via a joint development agreement (JDA) on Dec 1.
The JDA was signed during the United Nations (UN) Climate Change Conference of the Parties (COP 28), with the JDA document exchange witnessed by the Yang-di Pertuan Agong al-Sultan Abdullah Sultan Ahmad Shah and UAE President Sheikh Mohamed bin Zayed Al Nahyan.
Following the JDA, on Dec 2 during COP 28, Citaglobal and Masdar entered into a MoU with TRe, and be valid and effective from the signing date and shall remain in effect for the next two years.
The MoU formalises the intention of the parties to further discuss potential areas of collaboration including Project 2GW, battery energy storage system (BESS), as well as potential collaboration on future renewable energy projects under the National Energy Transition Roadmap (NETR).
On Dec 2, a ceremony was held to mark the signing of the MoU with an exchange of documents between TNB chairman Datuk Abdul Razak Abdul Majid, Citaglobal executive chairman and president Tan Sri Dr Mohamad Norza Zakaria and Masdar’s Development and Investment (Malaysia, Central Asia, and Africa) head Abdulla Zayed.
Project 2GW involves the proposed development of up to 2GW of renewable energy in Pahang, which will see the construction of ground-mounted solar arrays, floating solar farms and battery energy storage systems (BESS) across multiple sites in Pahang to be developed over a few phases, over a 5-year period.
Citaglobal has received full support from Pahang government for the project, particularly for the approval of land.
Citaglobal’s Mohamad Norza said the presence of TRe in itself a big win, saying it is
“We are honoured to work with them and warmly welcome TRe into our partnership. TRe’s extensive expertise in infrastructure, site planning, asset management and evaluation will bring significant value to Project 2GW across its entire lifecycle.
“The presence of blue-chip partners like TRe and Masdar strengthens our resources in terms of finance, infrastructure, and shared innovations.
“This collaboration will also help with the security of supply, making renewables a more viable option to replace fossil fuels. All parties are on the same page in working together to achieve net zero targets and speed up the pace of the global energy transition.
“We aim to formalise the participation of TRe within the JDA agreement as soon as possible,” he said.
Meanwhile, TNB’s Abdul Razak said the group is looking forward to joining hands with Citaglobal and Masdar for the solar farm project.
“Malaysia’s robust economy and renewable resources make it a prime investment hub. Our deepening collaboration emphasizes our commitment to advancing renewable energy aligned with Malaysia’s National Energy Transition Roadmap (NETR).
“At COP28, amid the climate crisis, smart projects like these are pivotal for regional energy transition. TRe’s involvement enhances our expertise in large-scale renewables, strengthening our partnership and collective goal to drive impactful change, and fast-tracking the country’s sustainable energy future,” he added.
