ACWA Power's Commitment Boosts Malaysia As Key Regional Energy Player - Anwar
KUALA LUMPUR, Aug 6 (Bernama) -- ACWA Power’s commitment to choose Malaysia to house its main hub in Southeast Asia has strengthened the country’s position as a key player in regional sustainable energy and supports efforts toward a low-carbon economy, said Prime Minister Datuk Seri Anwar Ibrahim.
Welcoming the world’s largest water desalination company's decision to invest in clean energy infrastructure nationwide, Anwar said this is another positive development from the close cooperation between Malaysia and Saudi Arabia, especially following his meeting with the ACWA Power founder during the recent ASEAN-Gulf Cooperation Council (GCC) Summit.
On May 27, ACWA Power signed a memorandum of understanding (MoU) with the Malaysian Investment Development Authority (MIDA) to facilitate the implementation of strategic investment projects in clean energy infrastructure across Malaysia.
The Riyadh-based company has a 12.5-gigawatt capacity target by 2040, with an estimated US$10 billion investment.
“This investment acknowledges Malaysia’s energy transition policy, opens up high-skilled job opportunities and drives technology transfer,” said the Prime Minister in a post on X today.
He also said ACWA Power is forming strategic collaborations with TNB Power Generation Sdn Bhd, UEM Lestra Bhd, and Terengganu Incorporated Sdn Bhd to develop projects in renewable energy, hydrogen, and combined cycle gas turbines (CCGT), in line with the National Energy Transition Roadmap (NETR).
— BERNAMA