Worldwide Holdings Bhd has formalised a partnership with United Arab Emirates’ (UAE) clean energy company, Masdar, for the development of 1 gigawatt (GW) of renewable energy projects in Selangor.
The agreement was sealed following the signing of a memorandum of understanding (MoU) between the two parties in Abu Dhabi, UAE today.
In a statement, WHB said the collaboration for the energy projects development will, among other things, focus on technologies such as floating solar, ground-mounted solar, rooftop solar, hydro and hybrid systems.
According to WHB, the MOU signing signifies Selangor’s commitment and support towards Malaysia’s National Energy Transition Roadmap (NETR), New Industrial Master Plan (NIMP) 2030 and the First Selangor Plan (RS-1).
“It also marks a significant milestone within Masdar’s broader framework to invest in and develop up to 10 GW of renewable energy projects in Malaysia, as announced last October,” it said in today’s statement.
Chief executive officer Datin Paduka Norazlina Zakaria said“It further solidifies and acknowledges our (WHB) position and role as one of the national key players and drivers of the renewable energy sector, particularly in Selangor.”
Established in 2006, Masdar has developed and invested in projects in over 40 countries with a combined capacity of over 20 gigawatts (GW), providing affordable clean energy access to those who need it most.
The firm is targeting a renewable energy portfolio capacity of 100GW by 2030, while aiming to be a leading producer of green hydrogen by the same year.
