Abu Dhabi Future Energy Company (Masdar) and Keppel Corporation’s infrastructure division will collaborate to develop decarbonisation and sustainability solutions in ASEAN and the Middle East, the firms said.
Both the parties signed a memorandum of understanding at the United Nations’ COP28 climate conference in the United Arab Emirates (UAE).
As per the agreement, they will explore solutions to support the development and deployment of utility-scale renewable projects in ASEAN. The parties will also work towards facilitating the cross-border flow of low-carbon energy through energy storage and grid transmission systems.
The firms will also explore the feasibility of co-developing large scale floating solar photovoltaics systems in Singapore and the region. In the Middle East, Keppel and Masdar will explore opportunities in energy-as-a-service, waste-to-energy and advanced, high-energy efficiency desalination treatment.
“The partnership will leverage Keppel’s experience in cross-border electricity trade in Asean, as well as benefit from Masdar’s plans to implement renewable projects in South-east Asia,” said Cindy Lim, chief executive of Keppel’s infrastructure division.
Masdar Chief Executive Mohamed Jameel Al Ramahi said South-east Asia is an important strategic market for Masdar. He noted that the collaboration builds on Masdar’s existing partnership portfolio in the wider ASEAN region.