More details on Masdar’s mega Malaysian MoU: UAE renewables giant Masdar will invest USD 8 bn for up to 10 GW of renewables projects in Malaysia by 2035 including grounded and floating solar, wind and battery energy storage systems (BESS), according to a statement.

What we know: The projects will include ground mounted, rooftop and floating solar power plants, onshore wind farms and BESS, according to the statement. It comes under efforts by Malaysia to achieve its target of 70% renewable energy in installed capacity and net-zero emissions by 2050, it added.

Masdar has been tapping on Malaysia’s potential: Masdar inked an MoU with Malaysian investment holding company Citaglobal Berhad last July to jointly develop 2 GW worth of renewable energy projects in Malaysia. The agreement allows both parties to explore solar plants, BESS, wind farms, and other renewable energy technologies.

Pushing into Southeast Asia: The UAE renewables giant has heavily invested in renewable energy projects in Southeast Asia in recent months, including Indonesia. Last month, Masdar signed an agreement with Indonesia’s utility company PLN Nusantara Power to develop a 500 MW floating solar photovoltaic plant (FPV) in Indonesia. Earlier in February, Masdar acquired shares in the geothermal unit of Indonesian government-owned geothermal utility Pertamina, which controls 82% of Indonesia's installed geothermal energy capacity, and manages 13 geothermal energy projects generating 1.87 GW of electricity.