The Emirati renewable company Masdar has signed an agreement with the Malaysian company Citaglobal Berhad to develop 2 GW of renewable power capacity across Malaysia. The agreement covers the joint development of renewable energy projects across solar, battery energy storage system, wind and other renewable energy technologies. The deal also includes rural and off-grid initiatives.
Masdar has recently been ramping up its investments in South-East Asia. The company has notably developed the region’s largest floating solar facility in Indonesia (the 145 MW Cirata floating solar PV plant). In February 2023, Masdar also entered the geothermal energy sector through a strategic investment in Indonesia’s Pertamina. In addition, the company opened an office in Jakarta, Indonesia, in 2021.
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