Sarawak Energy has signed a Memorandum of Understanding (MoU) with Abu Dhabi Future Energy Company, Masdar, recently.
The MoU was signed at the 28th Conference of Parties (COP28) at the United Nations Framework Convention on Climate Change (UNFCC) in Dubai. The pact is expected to accelerate the progress of renewable energy projects across Sarawak and Malaysia.
“The focus of the agreement encompasses key areas of collaboration, emphasising the development of innovative renewable energy projects utilising cutting-edge technologies, such as Solar Photovoltaic (PV) technology and Battery Energy Storage Systems (BESS),” said the firm in a statement.
“A significant target outlined in the MoU involves a joint effort to develop two gigawatts (GW) renewable energy projects in Malaysia while Phase 1 of the initiative aims to kick off by developing 1GW projects in Sarawak. In addition to solar and energy storage projects, Sarawak Energy and Masdar are set to explore collaborative opportunities in hydro projects throughout Malaysia,” added Sarawak Energy in its statement.
Sarawak Energy group Chief Executive Officer Datuk Sharbini Suhaili also stated that as Malaysia progresses towards its net-zero targets, it is crucial for nations to work together in maximising the full potential of their renewable energy resources.
“Regional collaboration is essential, and our partnership with Masdar will play a key role in advancing our sustainable future agenda,” said Sharbini.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, expressed pride in strengthening support for Malaysia’s renewable energy ambitions.
“This partnership marks a significant step forward in international collaboration for the development of sustainable and renewable energy solutions.
“It follows an earlier MoU signed in October 2023 between Masdar and the Malaysian Investment Development Authority (Mida), committing an investment of US$8 billion (RM37 billion) for the development of up to 10 gigawatts (GW) renewable energy projects,” said Sarawak Energy.