Masdar, Signs 10GW Photovoltaic Project!

UAE power company Masdar has signed a project with the Malaysian Investment Development Authority (MIDA) to develop 10GW of renewable energy projects, including ground-level, rooftop and floating photovoltaic projects. MIDA said Masdar aims to commission the projects by 2035. In addition to solar projects, Masdar will also help the Southeast Asian country build wind farms and battery energy storage systems. The two parties plan to invest US$8 billion in the project.

According to the Malaysian Ministry of Investment, Trade and Industry, NIMP 2030 is an industrial policy aimed at expanding and modernizing manufacturing, manufacturing-related services. The plan follows previous generations of plans implemented between 1986-1995, 1996-2005 and 2006-2020 to help Malaysia decarbonize its manufacturing industry.

Malaysia plans to achieve net-zero emissions as early as 2050, decarbonizing its industry through the implementation of energy efficiency and waste management measures, rapid adoption of renewable energy and technologies, and a robust regulatory framework.

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