• Deployment of MYBESS by Citaglobal-Genetec BESS Sdn Bhd and other renewable
energy projects in Southeast Asia and Central Asia region
• Masdar, one of the world's leading renewable energy companies, signs agreement with
Citaglobal to develop broad range of renewable energy projects in Malaysia, including
rural, off-grid initiatives
Citaglobal Bhd together with its subsidiary companies and
Abu Dhabi Future Energy Company PJSC (Masdar), the UAE’s clean energy powerhouse,
have signed a memorandum of understanding (MoU) for the joint development of renewable
energy projects across solar, battery energy storage system (BESS), wind and other renewable
energy technologies.
The MoU was signed in Malaysia by Abdulla Zayed, Masdar’s Head of Development and
Investment, and Citaglobal’s Executive Chairman and President, Tan Sri (Dr.) Mohamad Norza
Zakaria.
Citaglobal and Masdar will join forces to develop projects across the renewable energy mix in the
picturesque Malaysian state of Pahang. This includes exploring solar, battery energy storage
system (BESS), wind and other renewable energy technologies. Malaysia is targeting net-zero
emissions by 2050.
The signing ceremony was witnessed by the Minister of Investment, Trade and Industry Malaysia
(MITI), Yang Berhormat Mulia Datuk Seri Utama Tengku Zafrul Aziz and Ambassador of the
United Arab Emirates (UAE) to Malaysia, His Excellency Khalid Ghanim Mohammed Alghaith.
Masdar is an investment vehicle of the Government of Abu Dhabi owned by Mubadala Investment
Company, Abu Dhabi National Oil Company (ADNOC) Group & Abu Dhabi National Energy
Company (TAQA). Together, they have the mandate to generate sustainable economic benefits
for Abu Dhabi through the developments related to renewable energy and green hydrogen in
partnership with local, regional and international investors. Today, Masdar is active in more than
40 countries across six continents and has invested in or committed to investing in projects with
a combined value of over US$30bil, with a total capacity of over 20 gigawatts (GW), and is able
to offset 30 million tonnes of CO2 emissions annually.
Meanwhile, Citaglobal’s wholly owned subsidiaries involved in this deal include Citaglobal Energy
Sdn Bhd, Citaglobal Powergen Sdn Bhd and its 50:50 joint control company, Citaglobal Genetec
BESS Sdn Bhd (CG BESS).
Citaglobal’s Executive Chairman and President, Tan Sri (Dr.) Mohamad Norza Zakaria,
commented, “We are extremely honoured to partner Masdar, a global and respected leader in
renewable energy and green hydrogen for future renewable energy projects. Over the past
decade, Masdar has pioneered commercially viable solutions in clean energy, sustainable real
estate and clean technology in the UAE and around the world. By collaborating with a leading
energy transition player, we will make faster progress towards our climate targets, besides
building our long term energy requirements in a responsible and cost efficient manner.”
Mohamed Jameel Al Ramahi, Masdar’s Chief Executive Officer, said, “Masdar is excited to
be partnering with Citaglobal and to be expanding our presence in the key Southeast Asian
market. We look forward to pioneering energy solutions to reduce emissions in Malaysia and the
region. As the UAE looks ahead to hosting the UN climate change conference, COP28, later this
year, Masdar is proud to be working with partners to advance clean energy solutions around the
world.”
“Southeast Asia is a key investment destination for Masdar. The company has developed the
region’s largest floating solar facility in Indonesia - the 145MW Cirata Floating Solar PV plant –
which will generate enough electricity to power 50,000 homes. In February 2023, the UAE’s clean
energy powerhouse entered the geothermal energy sector through a strategic investment in
Indonesia’s Pertamina Geothermal Energy,” added Mohamed Jameel.
The purpose of the MOU is to formalise the intention of the parties to further discuss the potential
areas of collaboration comprising renewable energy projects in relation to solar photovoltaic
(PV), battery energy storage system (BESS), hydro, wind, waste to energy, heat to energy and
carbon capture & utilization. Malaysia is targeting net-zero emissions by 2050. The MoU will also
facilitate the potential collaboration between Masdar and Citaglobal related to technology
solutions and equipment supply outside of Malaysia with a focus on Central Asia.
The execution of this MOU will enable the Citaglobal Group to improve and strengthen the
development of a 2GW Solar Farm (landed and floating) in the state of Pahang, that will cater to
the local and export renewable energy markets. The parties will further discuss the potential
deployment of CG BESS’ MYBESS, at Masdar facilities all around the world.
This MOU is effective immediately from the date of execution of the MOU and shall subsist for
the period of two years thereafter.
