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Citaglobal, Masdar Team Up To Develop 2gw Clean Energy In Pahang

KUALA LUMPUR, July 27 (Bernama) -- Citaglobal Bhd and Abu Dhabi Future Energy Company PJSC (Masdar) today signed a memorandum of understanding (MoU) to jointly develop renewable energy (RE) projects across solar, battery energy storage system (BESS), wind and other RE technologies.

The two entities will join forces to develop projects across the RE mix in Pahang, including exploring solar, BESS, wind and other RE technologies. Malaysia is targeting net-zero emissions by 2050. 

In a statement to Bursa Malaysia, Citaglobal executive chairman and president Tan Sri Mohamad Norza Zakaria said over the past decade, Masdar has pioneered commercially-viable solutions in clean energy, sustainable real estate and clean technology in the United Arab Emirates (UAE) and around the world.

“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,” he said. 

Meanwhile, Masdar chief executive officer Mohamed Jameel Al Ramahi said the company is excited to be partnering with Citaglobal and to expand its presence in key Southeast Asian market.

“We look forward to pioneering energy solutions to reduce emissions in Malaysia and the region. Southeast Asia is a key investment destination for Masdar,” he said. 

Masdar is active in more than 40 countries across six continents and has invested in or committed to investing in projects with a combined value of over US$30 billion (US$1=RM4.52), with a total capacity of over 20 gigawatts (GW), and is able to offset 30 million tonnes of carbon dioxide emissions annually.

Citaglobal’s wholly-owned subsidiaries involved in this deal include Citaglobal Energy Sdn Bhd, Citaglobal Powergen Sdn Bhd and its 50:50 joint control company, Citaglobal Genetec BESS Sdn Bhd (CG BESS).

The MoU was signed by Mohamad Norza and Masdar Head of Development and Investment Abdulla Zayed and witnessed by Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz and the UAE Ambassador to Malaysia, Khalid Ghanim Mohammed Alghaith.

The purpose of the MoU is to formalise the intention of the parties to further discuss the potential areas of collaboration comprising RE projects in relation to solar photovoltaic, BESS, hydro, wind, waste to energy, heat to energy and carbon capture and utilisation.

The MoU will also facilitate the potential collaboration between Masdar and Citaglobal relating to technology solutions and equipment supply outside of Malaysia with a focus on Central Asia.

The execution of this MoU will enable the Citaglobal Group to improve and strengthen the development of a 2GW Solar Farm (landed and floating) in Pahang that will cater to the local and export markets.

The MoU is effective immediately from the date of execution of the MoU and will subsist for two years thereafter.

-- BERNAMA

 

 

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