United Arab Emirates (UAE) renewables developer Masdar has signed a memorandum of understanding (MoU) with the Malaysian Investment Development Authority (MIDA) to invest $8bn in up to 10GW of renewable energy projects in Malaysia.

Aided by MIDA, Masdar will develop the renewable energy capacity by 2035, the company said in a press statement. These projects will include ground mounted, rooftop and floating solar power plants as well as onshore wind farms and battery energy storage systems.

The MoU was signed by Masdar CEO Mohamed Jameel Al Ramahi and Datuk Wira Arham Abdul Rahman, CEO of MIDA.