Cypark inks deal with Abu Dhabi Future Energy

PETALING JAYA: In a landmark move towards establishing itself as a key player in the global transition to renewable energy (RE), Cypark Resources Bhd has signed a strategic memorandum of understanding (MoU) with Abu Dhabi Future Energy Company PJSC-Masdar, one of the world’s largest RE companies.

This collaboration, estimated at one gigawatt (GW) of RE projects in Malaysia, marks a pivotal addition to the overarching Malaysian Investment Development Authority-Masdar 10GW MoU.

Emphasising innovation, the collaboration will focus on cutting-edge technologies, including floating solar, ground-mounted solar, rooftop solar, hydro and hybrid systems.

This emphasis aims to ensure diverse and efficient energy solutions. Both parties will also actively collaborate on the development of battery energy storage systems to enhance grid stability and optimise RE usage, Cypark Resources said in a statement.

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