Masdar and Citaglobal Berhad have signed an MoU for the joint development of renewable energy projects across solar, battery energy storage system (BESS), wind and other renewable energy technologies
Malaysian company Citaglobal Berhad is a diversified group with multiple revenue streams. It is currently involved in civil engineering and construction (CEC), telecommunications, oil and gas (OG), power generation, property development, manufacturing and renewable energy.
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 collaborate to build renewable energy projects in Malaysia's state of Pahang. Solar, battery energy storage systems (BESS), wind, and other renewable energy technologies are being investigated. Malaysia intends to achieve net zero emissions by 2050.
The signing ceremony was witnessed by the Minister of Investment, Trade and Industry Malaysia (MITI), Yang Berhormat Mulia Datuk Seri Utama Tengku Zafrul Aziz, and the UAE Ambassador to Malaysia, HE Khalid Ghanim Mohammed Alghaith.
Mohamed Jameel Al Ramahi, Masdar’s CEO, said, “Masdar is excited to be partnering with Citaglobal Berhad and to be expanding our presence in the key Southeast Asian market. 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.”
Mohamad Norza Zakaria, commented, “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.”
Masdar sees Southeast Asia as an important investment location. The 145MW Cirata Floating Solar PV project in Indonesia is the region's largest floating solar facility, generating enough electricity to power 50,000 households. The UAE's clean energy superpower will enter the geothermal energy industry in February 2023, thanks to a strategic investment in Indonesia's Pertamina Geothermal Energy. Masdar established an office in Jakarta, Indonesia, in 2021 to develop ties with major stakeholders in the area.
