Saudi Arabia’s ACWA Power has expressed its intention to invest more than $10 billion in Malaysia over the next 10 years in collaboration with Malaysia’s Cypark Resources Bhd, developer and provider of integrated renewable energy. This significant investment aims to bolster Malaysia’s renewable energy infrastructure and boost sustainable development in the country.
ACWA Power Chairman Mohammad Abdullah Abunayyan conveyed this ambitious investment plan to Malaysian Prime Minister Anwar Ibrahim during their discussions on the sidelines of the World Economic Forum (WEF) Special Meeting held in Riyadh.
The meeting served as a platform for fruitful dialogue and collaboration between Malaysia and multiple Saudi and global players.
According to Datuk Ami Moris, executive chair of Cypark Resources, the collaboration with Saudi Arabia’s ACWA Power in the renewable energy sector is nearing its final stages of discussion.
The comprehensive agreement should be ready by the end of this year. It will mark a significant milestone in Malaysia’s renewable energy landscape.
Read: Saudi Arabia introduces green financing framework to drive sustainability
ACWA Power, a global leader in renewable energy solutions, is committed to implementing technology transfer initiatives across Malaysia. Moreover, it seeks to share its wealth of knowledge and expertise in the field.
The collaboration aims to power up green data centers in industrial parks in Jasin, Melaka, and Kerian, Perak.
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