Masdar has signed a memorandum of understanding (MoU) with Citaglobal Berhad to develop broad range of renewable energy projects in Malaysia, including rural, off-grid initiatives.
The agreement covers the joint development of renewable energy projects across solar, battery energy storage system, wind and other renewable energy technologies.
The MoU was signed in Malaysia by Abdulla Zayed, Masdar’s Head of Development and Investment, and Citaglobal’s executive chairman and president Mohamad Norza Zakaria. Masdar and Citaglobal will join forces to develop projects across the renewable energy mix in the Malaysian state of Pahang as part of the country’s target of net-zero emissions by 2050.
The signing ceremony was witnessed by the Minister of Investment, Trade and Industry Malaysia (MITI), Tengku Zafrul Aziz, and the UAE Ambassador to Malaysia, Khalid Ghanim Mohammed Alghaith.
“Masdar is excited to be partnering with Citaglobal Berhad and to be expanding our presence in the key Southeast Asian market,” said Masdar chief executive officer Mohamed Jameel Al Ramahi.
“We look 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.”
Norza Zakaria added: “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. The MoU will also facilitate the potential collaboration between Masdar and Citaglobal related to technology solutions and equipment supply outside of Malaysia with a focus on Central Asia.”