Saudi Arabia’s ACWA Power aims to invest $10 billion in Malaysia’s renewable energy sector

Saudi Arabia’s ACWA Power, in collaboration with Malaysia’s ACWA Power, has announced its intention to invest more than $10 billion in Malaysia over the next 10 years. Cypark Resources Bhd, an integrated renewable energy developer and provider. This significant investment is aimed at strengthening Malaysia’s renewable energy infrastructure and promoting sustainable development in Malaysia.

ACWA Power Chairman Mohammad Abdullah Abunayan informed Malaysian Prime Minister Anwar Ibrahim of the ambitious investment plan during a discussion on the sidelines of the World Economic Forum (WEF) special meeting in Riyadh.

The conference served as a platform for fruitful dialogue and cooperation between Malaysia and multiple Saudi and global stakeholders.

Saipark Resources executive chairman Datuk Ami Moris said cooperation with Saudi Arabia’s ACWA Power in the renewable energy sector is nearing the final stage of discussions.

A comprehensive agreement should be finalized by the end of this year. This will be an important milestone in Malaysia’s renewable energy landscape.

Read: WEF special meeting: UAE doubles renewable energy capacity, Minister Al Mazrouei says

ACWA Power, a global leader in renewable energy solutions, is committed to implementing technology transfer initiatives across Malaysia. Additionally, we strive to share our wealth of knowledge and expertise in this field.

The partnership aims to strengthen green data centers located in industrial parks in Jasin, Malacca and Kelian, Perak.

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