2023-07-31 16:50:33
The Abu Dhabi Future Energy Company “Masdar” signed a memorandum of understanding with the “Sitaglobal Berhad” company, to cooperate in developing renewable energy projects, including solar and wind energy, energy storage battery systems, and other renewable energy technologies.
During a ceremony held in Malaysia, in the presence of Tenko Zafrul, Minister of Investment, Trade and Industry of Malaysia, and Khalid Ghanem Muhammad Al Ghaith, UAE Ambassador to Malaysia, the memorandum of understanding was signed by Abdullah Zayed, Head of Development and Investment Department at Masdar, and Dr. Muhammad Noorza Zakaria, Chairman of the Board of Directors of Sitaglobal, and according to the memorandum of understanding, Masdar and Sitaglobal will develop projects in the field of renewable energy in the Malaysian state of Pahang, including exploring opportunities to develop solar energy projects, wind energy, energy storage battery systems, and other renewable energy technologies. Malaysia aims to achieve climate neutrality by 2050.
Mohammed Jamil Al-Ramahi, CEO of Masdar, said: “We are pleased with this important partnership that brings us together with the company, Sitaglobal Berhad, which allows us to expand our activities in this major market, within the Southeast Asian region. We look forward to providing pioneering energy solutions that contribute to reducing emissions at the level of Malaysia and the region, and with the UAE preparing to host the COP28 Conference later this year, we at Masdar are proud to work with our partners to support the promotion of clean energy projects and solutions around the world. ».
Dr. Muhammad Nourza Zakaria said: “This partnership with one of the leading parties in supporting the transformation process within the global energy sector will help us accelerate the pace towards achieving our climate goals, in addition to meeting our long-term clean energy requirements, in a responsible manner, and is distinguished cost efficiently. The MoU will open the way for Masdar and Sitaglobal to collaborate in providing technology solutions to markets outside Malaysia, with a focus on the Central Asia region.”
Southeast Asia is a major investment destination for Masdar. Masdar has developed the Shirata floating solar photovoltaic plant in Indonesia, which is the largest of its kind in the region, with a production capacity of 145 megawatts, which will supply 50,000 homes with electricity. February 2023 Masdar entered the geothermal energy sector, through a strategic investment in the Indonesian company, Pertamina Geothermal Energy. In 2021, Masdar opened a business office in the Indonesian capital, Jakarta, to strengthen cooperation and partnerships with major players in the region.
It is noteworthy that “Masdar” was founded in 2006, and its projects are spread in more than 40 countries, and invests or commits to invest in a portfolio of global renewable energy projects, with a production capacity exceeding 20 gigawatts, and a total value exceeding 30 billion dollars, with aspirations to enhance its production capacity, To reach 100 gigawatts, and to produce one million tons of green hydrogen annually, by 2030.
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