Masdar plans to develop 10GW of renewable capacity in Malaysia

Abu Dhabi-based renewables giant Masdar has signed a memorandum of understanding (MoU) with Malaysia’s development body MIDA to invest $8bn for up to 10GW of renewable energy capacity in the southeast Asian country by 2035.

“Masdar is proud to play our part in helping Malaysia achieve its ambitious target of 70% renewable energy installed capacity and net-zero emissions by 2050,” Masdar CEO Mohamed Jameel Al Ramahi said.

Projects are slated to include ground-mounted, rooftop and floating solar plants, as well as onshore wind arrays and battery storage systems.

“This important agreement will see the UAE and Malaysia deepen our partnership in the development of renewable energy, directly supporting the nation’s National Energy Transition Roadmap,” said Sultan Al Jaber, industry minister of the United Arab Emirates.

“Ahead of the UAE hosting COP28, it further demonstrates Masdar’s and the UAE’s commitment to supporting countries across the world, decarbonising economies at home and abroad, for a just and inclusive energy transition.”

Masdar is already present in more than 40 countries with a total electricity generation capacity of more than 20GW, a capacity the Middle-Eastern renewables giant plans to expand to 100GW by 2030 when it also intends to produce 1m tonnes of green hydrogen.