Masdar plans solar plant in Malaysia

Masdar signed a power purchase agreement with Malaysia’s Tenaga Nasional Berhad for a 200 MW floating solar plant at the Chereh Dam in Pahang, according to a statement. The USD 208 mn project will be developed alongside local partners Citaglobal and Tiza Global and power some 100k homes.

(** Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

The bigger picture: The project is the company’s first under its plan to invest USD 8 bn for up to 10 GW of renewables projects in Malaysia by 2035, including grounded and floating solar, wind, and battery energy storage systems. Malaysia aims to achieve its target of 70% renewable energy in installed capacity and net-zero emissions by 2050.

Masdar is boosting its regional dominance: The company already operates Southeast Asia’s (current) largest floating solar plant, the 145 MW Cirata floating PV project in Indonesia, which it plans to expand to 500 MW.

Julphar plants Saudi manufacturing flag

UAE drugmaker Julphar is expanding its manufacturing capabilities to Saudi Arabia, committing SAR 300 mn (c. AED 295 mn) to an integrated pharma manufacturing facility at Modon Industrial City in Jeddah, Saudi Arabia, state news agency Wam reports. The 45k-sqm plant will produce biologics, sterile injectables, and oral solid dosage forms, and will turn the Kingdom from a pure export market to a production base.

Why it matters: Julphar has been steadily building out production. We previously reported that the group invested around AED 100 mn over the past three years to strengthen its UAE manufacturing base and plans to invest a further AED 300 mn over the next five years.

Tags: