Citaglobal Bhd and its subsidiary companies, in collaboration with Abu Dhabi Future Energy Company PJSC (Masdar), a leading clean energy company from the UAE, have entered into a memorandum of understanding (MoU) to jointly pursue renewable energy projects encompassing solar, battery energy storage system (BESS), wind, and other renewable technologies.
The signing ceremony for the MoU took place in Malaysia and involved Abdulla Zayed, Masdar’s Head of Development and Investment, along with Citaglobal’s Executive Chairman and President, Tan Sri (Dr.) Mohamad Norza Zakaria. The agreement aims to explore and develop clean energy initiatives that will contribute to sustainable and eco-friendly solutions.
Citaglobal and Masdar are set to embark on a collaborative journey to develop a range of renewable energy projects in the breathtaking state of Pahang, Malaysia. This visionary partnership will explore and implement initiatives in solar, battery energy storage system (BESS), wind, and other renewable energy technologies. Malaysia’s ambitious target of achieving net-zero emissions by 2050 provides a compelling backdrop to these green endeavors.
The official signing ceremony for this momentous agreement was graced by the presence of distinguished guests, including Yang Berhormat Mulia Datuk Seri Utama Tengku Zafrul Aziz, the Minister of Investment, Trade, and Industry Malaysia (MITI), and His Excellency Khalid Ghanim Mohammed Alghaith, the Ambassador of the United Arab Emirates (UAE) to Malaysia. This collaboration symbolizes a shared commitment towards a sustainable future and underscores the vital role of clean energy in shaping it.
Masdar serves as an investment vehicle of the Government of Abu Dhabi and is jointly owned by Mubadala Investment Company, Abu Dhabi National Oil Company (ADNOC) Group, and Abu Dhabi National Energy Company (TAQA). Their collective mission is to foster sustainable economic growth for Abu Dhabi by spearheading developments in renewable energy and green hydrogen, facilitated through partnerships with local, regional, and international investors. With a global presence, Masdar operates in more than 40 countries across six continents and has already committed to investments in projects totaling over US$30 billion, boasting a combined capacity of more than 20 gigawatts (GW) and the potential to offset 30 million tonnes of CO2 emissions annually.
Citaglobal’s involvement in this transformative collaboration includes its wholly owned subsidiaries, namely Citaglobal Energy Sdn Bhd, Citaglobal Powergen Sdn Bhd, and Citaglobal Genetec BESS Sdn Bhd (CG BESS). As joint partners with Masdar, they are actively contributing to the advancement of renewable energy solutions in the picturesque Malaysian state of Pahang and beyond.
Citaglobal’s Executive Chairman and President, Tan Sri (Dr.) Mohamad Norza Zakaria, commented, “We are extremely honoured to partner Masdar, a global and respected leader in renewable energy and green hydrogen for future renewable energy projects. Over the past decade, Masdar has pioneered commercially viable solutions in clean energy, sustainable real estate and clean technology in the 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.”
Mohamed Jameel Al Ramahi, Masdar’s Chief Executive Officer, said, “Masdar is excited to be partnering with Citaglobal 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.”
“Southeast Asia is a key investment destination for Masdar. The company has developed the region’s largest floating solar facility in Indonesia – the 145MW Cirata Floating Solar PV plant – which will generate enough electricity to power 50,000 homes. In February 2023, the UAE’s clean energy powerhouse entered the geothermal energy sector through a strategic investment in Indonesia’s Pertamina Geothermal Energy,” added Mohamed Jameel.
The signing of the Memorandum of Understanding (MOU) serves to formalize the shared intention of Citaglobal and Masdar to explore and collaborate on various renewable energy projects. These projects encompass a wide range of technologies, including solar photovoltaic (PV), battery energy storage systems (BESS), hydro, wind, waste-to-energy, heat-to-energy, and carbon capture & utilization. The backdrop of Malaysia’s aim to achieve net-zero emissions by 2050 provides a compelling context for these sustainable initiatives.
The primary focus of the MOU is to foster potential collaborations in renewable energy development within Malaysia, particularly in the state of Pahang. Citaglobal Group will be empowered to enhance and strengthen the realization of a 2GW Solar Farm, comprising both landed and floating solar installations, catering to local and international renewable energy markets.
Furthermore, the MOU also opens up the possibility of collaboration between Masdar and Citaglobal beyond Malaysia’s borders, with a specific focus on technology solutions and equipment supply in the Central Asian region.
Additionally, discussions will be initiated regarding the potential utilization of CG BESS’ MYBESS technology at Masdar facilities worldwide, showcasing a commitment to deploying innovative energy storage solutions in pursuit of sustainability and environmental preservation.
This MOU is effective immediately from the date of execution of the MOU and shall subsist for the period of two years thereafter.