KUALA LUMPUR: ACWA Power’s decision to establish its Southeast Asian hub in Malaysia reinforces the country’s role as a regional leader in sustainable energy.
Prime Minister Datuk Seri Anwar Ibrahim highlighted this as a milestone in Malaysia-Saudi Arabia collaboration following discussions at the ASEAN-GCC Summit.
The Riyadh-based company signed an MoU with MIDA in May to advance clean energy projects nationwide. ACWA Power aims to achieve a 12.5-gigawatt capacity by 2040, backed by an estimated US$10 billion investment.
Anwar noted the investment aligns with Malaysia’s energy transition policy, creating skilled jobs and enabling technology transfer.
The firm is partnering with TNB Power Generation, UEM Lestra, and Terengganu Incorporated to develop renewable energy, hydrogen, and CCGT projects under the NETR framework. – Bernama
