KUALA LUMPUR: Worldwide Holdings Bhd has signed a memorandum of understanding (MoU) with Masdar (Abu Dhabi Future Energy Company) to jointly develop one gigawatt (GW) of renewable energy projects in Selangor.

The partnership will focus on technologies such as floating solar, ground-mounted solar, rooftop solar, hydro and hybrid systems.

"It marks a significant milestone within Masdar's broader framework to invest in and develop up to 10 GW of renewable energy projects in Malaysia, as announced last October," the statement said.

According to Worldwide Holdings, it also signifies Selangor's commitment and support towards the National Energy Transition Roadmap (NETR) Plan, the New Industrial Master Plan 2030 and the Selangor First Plan (RS1).

Group chief executive officer Datin Paduka Norazlina Zakaria said the MoU reinforces and recognises Worldwide Holdings' standing and impact as a major player and catalyst in driving the renewable energy sector, specifically within Selangor.

Masdar chief executive officer Mohamed Jameel Al Ramahi said the partnership propels the ambitious goal of delivering 10GW of renewable energy projects across Malaysia, which it has committed to.

"Masdar is proud to play our part in helping the country achieve its target of 70 per cent renewable energy installed capacity and net-zero emissions by 2050," he added.

The agreement was finalised by Datin Paduka Norazlina Zakaria, and Masdar chief operating officer Abdulaziz Alobaidli in Abu Dhabi on Thursday.

https://www.nst.com.my/business/corporate/2024/04/1043020/worldwide-holdings-seals-pact-abu-dhabis-masdar-develop-10gw-re