KUALA LUMPUR, Dec 3 — Cypark Resources Bhd has signed a strategic memorandum of understanding (MoU) with Abu Dhabi Future Energy Company PJSC, often known as Masdar, one of many world’s largest renewable energy corporations, to advance Malaysia renewable energy agenda.
The collaboration, estimated at 1GW of renewable energy tasks in Malaysia, marks a pivotal addition to the MIDA-Masdar 10GW MoU signed in October 2023.
In that October 2023 MoU, Masdar signed an MoU with the Malaysian Investment Development Authority (MIDA) to make investments US$8 billion (RM37 billion) for up to 10 gigawatts (GW) of renewable energy tasks in a partnership that can considerably contribute to Malaysia’s sustainable energy transformation.
This most up-to-date collaboration, estimated at 1GW of renewable energy tasks in Malaysia, additional solidifies the dedication of the entities to advancing Malaysia’s renewable energy panorama, Cypark stated in a press release.
“Emphasising innovation, the collaboration will give attention to cutting-edge applied sciences, together with floating photo voltaic, ground-mounted photo voltaic, rooftop photo voltaic, hydro and hybrid programs. This emphasis goals to guarantee numerous and environment friendly energy options.
“Both events may also actively collaborate on the event of battery energy storage programs (BESS) to improve grid stability and optimise renewable energy utilization,” it stated.
Chair of Cypark’s board of administrators Datuk Ami Moris stated Cypark seems ahead to collaborating with Masdar, aligning the mixed expertise with world efforts to transition in direction of a low-carbon future.
“As Malaysia’s main photo voltaic and waste to energy producer, we’re steadfast in rising the renewable energy ecosystem in Malaysia,” he stated. — eNM
