Saudi Arabia's ACWA Power has signed a memorandum of understanding with Malaysia to develop up to 12.5 gigawatts of renewable energy capacity by 2040, backed by an initial investment of $10 billion.
Saudi Arabia's ACWA Power said on Thursday it had signed a preliminary agreement to develop up to 12.5 gigawatts of renewable energy generating capacity in Malaysia with an initial investment of up to $10 billion.
The renewable energy utility said in a statement it agreed to a memorandum of understanding with the Malaysian Investment Development Authority to explore developing the capacity by 2040.
Malaysia aims for renewable energy to make up 70% of its power mix by 2050.
ACWA Power also signed strategic partnership agreements with several Malaysian companies for potential energy projects, including large-scale water desalination.
"These strategic agreements represent a significant milestone in ACWA Power's expansion in Southeast Asia and reflect our commitment to supporting Malaysia and the broader ASEAN region's energy transition," said ACWA CEO Marco Arcelli in the statement.
Haitian police have seized more than 1,000 kilograms of cocaine during a raid off the country’s northern coast that left three suspected traffickers...
Syria has declared the devastating wildfires in Latakia province fully extinguished after 12 days of fierce battling....
Kazakhstan will remain part of the OPEC+ oil production deal but is opening talks to revise contracts with foreign investors at its largest oil and ga...
U.S. President Donald Trump confirmed Tuesday that weapons are already being shipped to Ukraine amid the ongoing conflict. He also said there is no ru...
The Trump administration announced Tuesday it is ending the deployment of about 2,000 National Guard troops in Los Angeles, according to Pentagon spok...
Haitian police have seized more than 1,000 kilograms of cocaine during a raid off the country’s northern coast that left three suspected traffickers dead, officials confirmed Tuesday.
Syria has declared the devastating wildfires in Latakia province fully extinguished after 12 days of fierce battling.
Kazakhstan will remain part of the OPEC+ oil production deal but is opening talks to revise contracts with foreign investors at its largest oil and gas fields, Prime Minister Olzhas Bektenov said on Tuesday.
U.S. President Donald Trump confirmed Tuesday that weapons are already being shipped to Ukraine amid the ongoing conflict. He also said there is no rush to engage in talks with Iran over its nuclear program.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
Start your day informed with AnewZ Morning Brief: here are the top news stories for 10th July, covering the latest developments you need to know.
China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
Chinese automaker Chery has denied an industry-ministry audit that disqualified more than $53 million in state incentives for thousands of its electric and hybrid vehicles, insisting it followed official guidance and committed no fraud.
Hollywood star Sydney Sweeney is reportedly the top contender to become the next Bond girl, as director Denis Villeneuve and Amazon look to modernise the James Bond franchise.
Syria has declared the devastating wildfires in Latakia province fully extinguished after 12 days of fierce battling.
Southern Europe is facing an intense wildfire season as heatwaves and dry conditions threaten to spark more blazes across the Mediterranean in the weeks ahead.
European and Chinese officials have held talks in Beijing focused on strengthening climate commitments, as both sides prepare revised targets ahead of the COP30 summit in Brazil later this year.
The world’s wetlands are disappearing at the fastest rate of any ecosystem, with a new report warning of major economic losses if urgent action is not taken.
Natural disasters in China during the first half of 2025 caused $7.55 billion in economic losses and affected more than 23 million people, with floods accounting for the majority of the damage, an official from the emergency response ministry said.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment