Masdar inks an MoU with Berhad to develop Malaysian renewables: UAE renewables giant Masdar has signed an MoU with Malaysian investment holding company Citaglobal Berhad to jointly develop 2 GW worth of renewable energy projects in Malaysia, according to a statement. No financial details or a timeline for the projects have been disclosed.

The details: Under the agreement, the projects both parties will explore include solar plants, battery energy storage systems (BESS), wind farms, and other renewable energy technologies, the statement notes. Masdar and Citiglobal are looking to develop these projects in the Malaysian state of Pahang, it adds.

More in the pipeline? UAE Prime Minister Khaled bin Mohammed bin Zayed and counterpart Anwar Ibrahim met in Malaysia last May to discuss exploring potential partnerships in the clean energy sector.

Not Masdar’s first entry in Southeast Asia: The company has heavily invested in renewable energy projects in Southeast Asia recently, including Indonesia. Masdar bought shares in the geothermal unit of Indonesia’s state-owned energy firm Pertamina earlier this year in February. The company signed an agreement last year to co-develop solar energy projects worth 1.2 GW with Tuas Power, EDF Renewables, and PT Indonesia Power with an eye on exporting the energy to Singapore. It also signed a power purchase agreement with the Indonesian electricity company for a 145 MW floating solar power plant in 2020.

The company is eyeing an extensive renewable energy portfolio: Masdar is planning to grow its global portfolio to at least 100 GW by 2030. It is also looking to expand its green hydrogen production to 1 mn tons per annum by 2030. The combined capacity for its global portfolio is estimated at 20 GW across 40 countries.