Malaysia and the United Arab Emirates have agreed to jointly establish renewable energy capacity of 10 gigawatts in Malaysia worth $8 billion by 2025. This was disclosed by Prime Minister Datuk Seri Anwar Ibrahim on a social media post. He said that the collaboration is outlined in a preliminary agreement between the Malaysian Investment Development Authority and Abu Dhabi Future Energy Company PJSC (Masdar).
On his work visit to the UAE, speaking to captains of industry during a roundtable meeting in the United Arab Emirates (UAE) yesterday (5-10-2023), he emphasised Malaysia’s commitment to implementing good and clear policies with regard to renewable energy (RE) and technological advancements. He noted that Malaysia is one of the earliest countries in Southeast Asia to move towards RE, with Sarawak as a major energy hub, currently supplying energy to Indonesia’s new capital, Kalimantan.
It may be noted that Malaysia is also participating in the first cross-border power trade in the ASEAN region under the Lao-Thailand-Malaysia-Singapore Power Integration Project to strengthen the ASEAN Power Grid.
Malaysia plans to increase its renewable energy capacity to 18,000 MWs by 2035 which currently is 8,700 MW. With this increase, it plans to make renewable energy share up to 40% in the country’s energy mix by 2035. The country aims to have a 31% renewable energy mix by 2025 with solar energy projects and other green energy sources.