• Ahead of the UAE hosting COP28, development demonstrates Masdar’s growing presence in Southeast Asia and commitment to supporting the region’s net-zero goals

Abu Dhabi: Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, and Citaglobal Berhad, have signed a memorandum of understanding (MoU) for the joint development of renewable energy projects across solar, battery energy storage system (BESS), wind and other renewable energy technologies.

The MoU was signed in Malaysia by Abdulla Zayed, Masdar’s Head of Development and Investment, and Citaglobal’s Executive Chairman and President, Tan Sri (Dr) Mohamad Norza Zakaria. Masdar and Citaglobal will join forces to develop projects across the renewable energy mix in the picturesque Malaysian state of Pahang. This includes exploring solar, battery energy storage system (BESS), wind and other renewable energy technologies. Malaysia is targeting net-zero emissions by 2050.

The signing ceremony was witnessed by the Minister of Investment, Trade and Industry Malaysia (MITI), Yang Berhormat Mulia Datuk Seri Utama Tengku Zafrul Aziz, and the UAE Ambassador to Malaysia, HE Khalid Ghanim Mohammed Alghaith.

Mohamed Jameel Al Ramahi, Masdar’s Chief Executive Officer, said, “Masdar is excited to be partnering with Citaglobal Berhad 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.”

Citaglobal Berhad Executive Chairman and President, Tan Sri (Dr) Mohamad Norza Zakaria, commented, “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. The MoU will also facilitate the potential collaboration between Masdar and Citaglobal related to technology solutions and equipment supply outside of Malaysia with a focus on Central Asia.”

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. Masdar opened an office in Jakarta, Indonesia, in 2021 to further strengthen links with key players within the region.

Established in 2006, Masdar is active in more than 40 countries with a total electricity generation capacity of more than 20GW. It has invested, or committed to invest, in worldwide projects with a combined value of more than US$30 billion with ambitious growth plans to reach 100GW and 1 million tonnes of green hydrogen by 2030.

About Masdar

Abu Dhabi Future Energy Company (Masdar) is the UAE’s clean energy champion and one of the largest companies of its kind in the world, advancing the development and deployment of renewable energy and green hydrogen technologies to address global sustainability challenges. Established in 2006, Masdar is today active in over 40 countries, helping them to achieve their clean energy objectives and advance sustainable development. Masdar is jointly owned by Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company (Mubadala), and Abu Dhabi National Energy Company (TAQA), and under this ownership the company is targeting a renewable energy portfolio capacity of at least 100 gigawatts (GW) by 2030 and an annual green hydrogen production capacity of up to 1 million tonnes by the same year.

About Citaglobal Berhad

Listed on Jan 2, 2008, Citaglobal Berhad is a diversified group with multiple revenue streams. It is currently involved in civil engineering and construction (CEC), telecommunications, oil and gas (OG), power generation, property development, manufacturing and renewable energy. Citaglobal is now moving forward into becoming a leading player in technology-driven industries to empower the future.

The CEC segment is primarily involved in infrastructure construction contracts. The OG segment is principally engaged in onshore oil and gas downstream activities, while the manufacturing segment consists of the manufacturing of cold-drawn bright steel products. In the telecommunications segment, it is a licensed Network Facilities Provider with experience in installation and erection of towers, installation of fiber networks and providing 5G enterprise solutions.  The power generation division caters to the niche markets of the O&G industry, sets up and supplies mobile and stationary power generation solutions to utility companies, and supplies SEDA-approved locally assembled Biogas Generators in the Green Energy segment. For its development business, the company is involved in construction, property development and property investment.

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This material is distributed by Daniel J. Edelman, Inc. on behalf of Masdar. Additional information is available at the Department of Justice, Washington, DC.