ACWA Power boosts Malaysia's clean energy leadership with regional hub
Prime Minister Datuk Seri Anwar Ibrahim highlighted this as a milestone in Malaysia-Saudi Arabia collaboration following discussions at the ASEAN-GCC Summit.
The Riyadh-based company signed an MoU with MIDA in May to advance clean energy projects nationwide. ACWA Power aims to achieve a 12.5-gigawatt capacity by 2040, backed by an estimated US$10 billion investment.
Anwar noted the investment aligns with Malaysia's energy transition policy, creating skilled jobs and enabling technology transfer.
The firm is partnering with TNB Power Generation, UEM Lestra, and Terengganu Incorporated to develop renewable energy, hydrogen, and CCGT projects under the NETR framework. - Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
21 minutes ago
- The Star
Deutsche Telekom partnering with Nvida, Brookfield on AI data centre -CEO
(Reuters) -Deutsche Telekom is partnering with Nvidia and Canadian private equity fund Brookfield in a bid to build one of the EU's AI "gigafactories" in North Rhine-Westphalia, Germany, its chief executive said on Thursday. "We have partnerships with Brookfield and also with Nvidia – these are our big partners for this gigabit factory," CEO Tim Hoettges said in a call with reporters following the company's second quarter results. Although discussions with North Rhine-Westphalia about building the data processing center in the state are ongoing, a final decision has yet to be made. "This is where we currently see our factory. But, of course, that could still change during the selection process," Hoettges said, adding that the company would proceed as quickly as possible once a decision is reached. The company is looking at existing production sites where electricity and water regulatory approvals are already in place, Hoettges said. "Discussions are happening here, for example with RWE," he said. In May, the Bonn-based company said it had teamed up with SAP, web hosting firm Ionos, and unlisted retailer Schwarz, but in June it was reported the companies would submit separate EU bids instead. Hoettges dismissed media reports that it had been in talks to join such a consortium. "It's a good thing that there is competition in Germany," he said. (Reporting by Marleen Kaesebier and Maria Rugamer in Gdansk; Editing by Matt Scuffham)
The Sun
21 minutes ago
- The Sun
Electric air taxis in Japan by 2027 with ANA and Joby Aviation
TOKYO: Airline ANA announced plans to introduce electric air taxis in Japan as early as 2027. The initiative is a collaboration with US-based Joby Aviation. The joint venture aims to deploy over 100 five-seater aircraft for urban mobility. ANA President Koji Shibata called the project a revolution in air travel. Each aircraft will carry a pilot and four passengers at speeds up to 200 mph. The service could drastically reduce travel time between Tokyo and Narita. Currently, the journey by car or train takes about an hour. The air taxi could shorten it to just 15 minutes. ANA has not yet disclosed pricing but aims to make the service affordable. A public demonstration is scheduled for October at the Osaka Expo. Joby Aviation CEO JoeBen Bevirt praised Japan as an ideal launchpad for air mobility innovation. The aircraft operates quietly with zero emissions. The project initially focuses on routes between Narita, Haneda, and Tokyo. Future expansion could include additional destinations. Joby's design allows vertical takeoff like a helicopter before transitioning to forward flight. This reduces noise and environmental impact. The announcement follows setbacks in the industry, including Volocopter's insolvency filing. The German startup had aimed for a 2025 launch. Volocopter faced delays after failing to secure engine certification in time for Paris Olympics test flights. The market remains competitive despite challenges. – AFP
The Star
an hour ago
- The Star
FMM calls for clear guidance, support measures following proposed US tariff on semiconductors
KUALA LUMPUR: Clear and timely guidance is crucial to maintaining investor confidence and preventing disruptions to supply chains that are integrated with the United States and global markets, according to the Federation of Malaysian Manufacturers (FMM). The federation said targeted support measures are needed, including regulatory facilitation, specialised advisory services, bilateral engagements to ease market entry barriers, and access to financing mechanisms that reduce investment risks and costs. At the policy level, FMM urged the government to strengthen support for both domestic and outward investment strategies to ensure Malaysia's continued competitiveness in the global semiconductor industry. "The National Semiconductor Strategy, which is currently being implemented, must be driven forward with greater urgency and focus, particularly in enhancing investment in integrated circuit design, advanced packaging, wafer fabrication, research and development, and talent development. "In parallel, companies considering expansion into the US or other markets require dedicated facilitation to support their internationalisation efforts,' it said in a statement today. FMM also expressed concern over the recent announcement by the US to impose a 100 per cent tariff on imported semiconductor chips, with exemptions only for companies that manufacture or plan to manufacture within the US. This development has created uncertainty for semiconductor companies operating in Malaysia, particularly US-based firms that have long used the country as a trusted base for global supply and exports to the US market. FMM noted that establishing operations abroad is complex and capital-intensive, requiring time, expertise, and sustained institutional support. Therefore, it stressed that these support measures are critical to help Malaysian manufacturers respond effectively to shifting global trade dynamics without being forced to relocate core operations. With the right support, FMM said companies can retain and grow high-value activities in Malaysia while also expanding strategically where necessary. It also reaffirmed its commitment to working closely with the government and international partners to ensure that Malaysia's position as a competitive, reliable, and trusted hub in the global semiconductor and manufacturing ecosystem is not only preserved but continuously strengthened. Malaysia is globally recognised as a leading hub for semiconductor assembly, packaging, and testing, contributing an estimated 13 per cent of global backend semiconductor output. Semiconductors were previously excluded from US reciprocal tariffs, and the proposed policy shift has raised immediate concerns among manufacturers, many of whom are seeking urgent clarification on whether their Malaysia-based operations will now fall within the scope of the new measure. - Bernama
