NEWS: Saudi ACWA Power to invest $10bln in Malaysia over 10 years

ACWA POWER -1.31%

ACWA POWER

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392.40

-1.31%

First published: 29-Apr-2024 15:49:29

Staff Writer

Saudi Arabian renewable energy major ACWA Power is keen to invest more than $10 billion in Malaysia over a 10-year period in collaboration with Cypark Resources Bhd, developer and provider in integrated renewable energy.

Malaysian news agency Bernama reported that ACWA Power chairman Mohammad Abunayyan conveyed this to Malasian prime minister Anwar Ibrahim on the sidelines of the World Economic Forum (WEF) meet in Riyadh on Monday.

Cypark Resources executive chair Datuk Ami Moris said the collaboration in the renewable energy project is in the final stages of discussion and is expected to be finalised by end of this year, the report said.

“ACWA Power, one of the world’s largest renewable energy companies, is keen on investing in Malaysia, implementing technology transfer and sharing its renewable energy expertise for industrial parks in Jasin, Melaka, and Kerian, Perak, to power up green data centres,” she told reporters after the meeting.

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@lseg.com

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.  

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