ACWA Power Announces $10 Billion Energy Investment Partnerships in Malaysia

Acwa Power: Strategic Collaborations Unveiled for ACWA Power (Saudi Arabia) has signed multiple Memorandums of Understanding (MoUs) and Strategic Partnership Agreements (SPAs) with leading Malaysian organizations during the ASEAN-GCC Summit in Kuala Lumpur.

A significant Memorandum of Understanding (MoU) signed with the Malaysian Investment Development Authority (MIDA). The goal is to develop up to 12.5 GW of power generation capacity by 2040. The investment potential is up to USD 10 billion. This initiative supports Malaysia’s target of attaining 70% renewable energy capacity by 2050. It is fully aligned with Malaysia’s NETR and Saudi Vision 2030.

Key Areas of Focus is the expansion of renewable energy initiatives. It will focus development of green hydrogen technologies. It will implement of advanced water solutions. It will accelerate de-carbonisation efforte. It will promote sustainable infrastructure across Southeast Asia.

 

Collaborative development agreements were signed with Tenaga Nasional Berhad (TNB), Terengganu Inc., and UEM Lestra. The objective is to conduct feasibility studies and co-develop future energy infrastructure projects.

 

The Planned Project Types are as follows

• Floating Solar Photovoltaic (FPV) systems

• Combined Cycle Gas Turbine (CCGT) facilities

• Large-scale water desalination plants

ACWA Power is active in 14 countries worldwide. The total value of the investment portfolio is USD 107.5 billion. It is recognized for delivering high-impact, commercially viable projects. The organization is spearheading the global energy transition by leveraging innovation and key collaborations.