They will collaborate with Cypark Resources Bhd on these developments.

Malaysian Prime Minister Anwar Ibrahim confirmed the news following a meeting with ACWA Power Chairman Mohammad Abunayyan at the World Economic Forum in Riyadh.

Ibrahim expressed appreciation for ACWA Power's commitment to increasing investments in Malaysia and contributing to the country's economic growth.

ACWA Power, a Saudi Arabian renewable energy company, has presented several investment proposals to Malaysia for developing renewable sites in Kelantan, Perlis, Johor, Terengganu, and Sarawak.

The Malaysian prime minister has promised to continue implementing investment-friendly policies to simplify and expedite deals.

In March 2023, ACWA Power signed an agreement with Azerbaijan's state oil company, SOCAR, to enhance SOCAR's carbamide fertilizer facility and produce more value-added low-carbon products.

Additionally, ACWA Power signed a deal with the International Renewable Energy Agency to accelerate the adoption of clean energy globally.

ACWA Power, a utility developer, has entered into a partnership with IRENA (International Renewable Energy Agency) to collaborate on various renewable energy initiatives.

The collaboration includes sharing knowledge on infrastructure investment, green hydrogen progress, solar energy, and the energy-water nexus.

Additionally, they will explore financing and investment opportunities for renewable projects and supporting infrastructure for clean energy development, storage, distribution, and transmission.