Saudi Arabia’s ACWA Power will invest up to $10 billion to deliver 12.5GW of renewable energy capacity in Malaysia by 2040. It supports the nation’s ambitious target of 70% renewable electricity by 2050.
In addition to major solar and green data center projects with local players like Cypark Resources, ACWA Power has signed strategic partnership agreements and heads of terms with key Malaysian entities. It includes Tenaga Nasional Berhad (TNB), Terengganu state authorities, and UEM Lestra. These deals lay the groundwork for feasibility studies and joint development of advanced energy solutions—ranging from floating solar PV systems to combined-cycle gas turbine (CCGT) plants and large-scale water desalination facilities.
The collaboration not only supports Malaysia’s decarbonization goals but also promises innovation transfer and local job creation. According to ACWA Power CEO Marco Arcelli, these partnerships represent “milestone steps” in scaling sustainable infrastructure across Southeast Asia.
This major investment signals growing confidence in Malaysia’s renewable sector and reinforces the nation’s position as a regional clean energy hub.
