ACWA Power’s latest foray into Southeast Asia signals a strategic shift in the regional clean energy landscape, as the Saudi utility giant commits to exploring up to 12.5 GW of new generation capacity in Malaysia by 2040. The signing of multiple Memoranda of Understanding (MoUs) and Strategic Partnership Agreements (SPAs) with Malaysian stakeholders—including the Malaysian Investment Development Authority (MIDA), Tenaga Nasional Berhad (TNB), Terengganu Inc., and UEM Lestra—extends ACWA Power’s ambitions beyond its traditional Middle East and North Africa stronghold. It also aligns with Malaysia’s National Energy Transition Roadmap (NETR), which targets 70% renewable energy in installed capacity by 2050,…
Author: Anela Dokso
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