PETALING JAYA: Malakoff Corporation Bhd has inked a heads of agreement with Abu Dhabi Future Energy Company PJSC-Masdar to identify potential business opportunities through investment and development of solar photovoltaic power plant project with a targeted aggregate capacity of up to 1,000MW, and explore other potential renewable energy (RE) projects in Peninsular Malaysia.
The two parties will jointly conduct technical and commercial assessments and/or pre-feasibility studies on specific projects that have been identified. They will also collaboratively handle the comprehensive tasks and activities involved in the project’s development, implementation and management, including the structuring of financing funds.
Malakoff managing director and group CEO Anwar Syahrin Abdul Ajib said that in response to the growing demand for solar power deployment, the collaboration will prioritise on the development of solar plants, leveraging on the vast availability of landbanks to be explored and maximising the government’s comprehensive framework as well as incentivising measures that are designed to facilitate corporations such as itself, in expediting this transition towards sustainable energy practices.
He said Malakoff together with Masdar aim not only to achieve their sustainability targets for a greener Malaysia but also to contribute significantly to fostering a more sustainable world.
Masdar recently signed a memorandum of understanding with Malaysian Investment Development Authority for an investment of US$8 billion (RM37.25 billion) for a 10,000MW of RE projects in Malaysia.
