Masdar, sign 10GW of photovoltaic power!

Masdar, a power company in the United Arab Emirates, has signed a memorandum of understanding with the Malaysian Investment and Development Authority (MIDA) to develop a 10GW renewable energy project, which includes ground, roof, and floating photovoltaic projects.

MIDA stated that Masdar's goal is to launch these projects by 2035. In addition to solar energy projects, Masdar will also help this Southeast Asian country build wind power plants and battery energy storage systems. Both parties plan to invest $8 billion in the project.

Tengku Datuk Seri Utama Zafral Aziz, Minister of Investment, Trade and Industry of Malaysia, stated, "The cooperation between MIDA and Masdar is fully in line with the goals set out in our 2030 New Industry Master Plan (NIMP 2030) and the National Energy Transformation Roadmap, which are to achieve sustainable development and energy security in Malaysia's industrial transformation

According to the Malaysian Ministry of Investment, Trade and Industry, NIMP 2030 is an industrial policy aimed at expanding and modernizing the manufacturing industry and manufacturing related services. This plan is another plan following the previous generation plans implemented between 1986 and 1995, 1996 and 2005, and 2006 and 2020, which will help Malaysia achieve manufacturing decarbonization.

Malaysia plans to achieve net zero emissions as early as 2050, through the implementation of energy efficiency and waste management measures, rapid adoption of renewable energy and technology, and a sound regulatory framework, to achieve decarbonization of Malaysian industry.

NIMP 2030 also aims to consolidate plans for energy or renewable energy adoption and accelerate the availability and accessibility of renewable energy.

Masdar Chairman Sultan Al Jaber said, "This important agreement will deepen cooperation between the United Arab Emirates and Malaysia in the development of renewable energy, directly supporting the national energy transformation roadmap

In September of this year, Masdar also expanded its business in Southeast Asia and signed an agreement to expand the 145MW Cirata floating photovoltaic project in Indonesia to 500MW. The second phase of the project will double the total capacity of the power plant, which is already the largest floating photovoltaic power plant in Southeast Asia.