Saudi Arabia's ACWA Power Signs MoU to Develop Renewables Capacity in Malaysia
Saudi Arabia's ACWA Power said on Thursday it had signed a preliminary agreement to develop up to 12.5 gigawatts of renewable energy generating capacity in Malaysia with an initial investment of up to $10 billion.
The renewable energy utility said in a statement it agreed a memorandum of understanding with the Malaysian Investment Development Authority to explore developing the capacity by 2040.
Malaysia wants renewable energy to make up 70% of its power mix by 2050.
ACWA Power said it also signed strategic partnership agreements with several Malaysian companies for possible energy projects, including for large-scale water desalination.
"These strategic agreements represent a significant milestone in ACWA Power's expansion in Southeast Asia and reflect our commitment to supporting Malaysia and the broader ASEAN region's energy transition," ACWA Power CEO Marco Arcelli said in the statement.
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Arab News
9 hours ago
- Arab News
Europe bristles at US proposals at Asian gathering, India-Pakistan hostility on show
SINGAPORE: The Shangri-La Dialogue security meeting in Singapore has long been marked by US-China rivalry but Beijing's relative retreat at the weekend exposed a new faultline — tensions between the US and Europe over Asia. Even as he warned in a speech on Saturday that China posed an 'imminent' threat, US Defense Secretary Pete Hegseth made clear he wanted Europeans to concentrate on European security as they boosted military budgets. 'We would much prefer that the overwhelming balance of European investment be on that that as we partner there, which we will continue to do, we're able to use our comparative advantage as an Indo-Pacific nation to support our partners here,' he said. Hegseth also noted the absence of his Chinese counterpart Dong Jun, as Beijing instead dispatched a low-level team of military scholars to the annual event, which attracts top defense officials, diplomats, spies and arms dealers from across the world. The other highlight of the event was the presence of high-powered military delegations from India and Pakistan after four days of intense clashes between the nuclear-armed neighbors that were halted by a ceasefire on May 10. The delegations, in full uniform and bristling with medal and service ribbons, were led by India's highest-ranking military officer and Pakistan's chairman of the joint chiefs of staff. They pointedly kept out of each other's way in the corridors and meeting halls of the sprawling Shangri-La hotel. On engaging in Asia, at least some European nations signaled they would not be swayed by the US exhortations. They insisted they would try to stay in both the Asian and European theaters, noting their deep links and vital trade flows as well as the global nature of conflict. 'It is a good thing we are doing more (in Europe), but what I want to stress is that the security of Europe and the security of the Pacific is very much interlinked,' said Europe's top diplomat Kaja Kallas. 'If you are worried about China, you should be worried about Russia,' Kallas said, underlining the importance of Chinese assistance to the Russian war effort in Ukraine and Moscow's deployment of North Korean soldiers. FRANCE'S ASIAN TIES French President Emmanuel Macron insisted that his nation remains an Indo-Pacific power, alluding to its enduring colonial presence in New Caledonia and French Polynesia and the basing of over 8,000 soldiers across the region. 'We are neither China nor the US, we don't want to depend on either of them,' Macron said at a press conference on Friday, outlining a 'third path' coalition between Europe and Asia that avoided having to choose between Beijing and Washington. 'We want to cooperate with both as far as we can, and we can cooperate for growth and prosperity and stability for our people and the world order, and I think this is exactly the same view of a lot of countries and a lot of people of this region,' he said. Beyond the rhetoric, regional military attaches and analysts say the European regional presence — and ambitions — may not be easy to shift. Military deployments are mapped out over decades rather than months, and both commercial and defense relationships go back decades, some of them only rarely publicly acknowledged. The visit of a British aircraft carrier to Singapore later this month is part of a program first mentioned by then-Foreign Secretary Boris Johnson in 2017 to stress British support for freedom of navigation in the South China Sea. The carrier visit in part reflects Britain's commitments under the 54-year-old Five-Power Defense Arrangement that links its military with counterparts in Singapore, Malaysia, Australia and New Zealand. British ties with Australia have been bolstered with the recent three-way AUKUS submarine and advanced technology sharing agreement struck with the US — a move that could see British submarines visiting Western Australia. Singapore meanwhile keeps 200 personnel in France operating 12 of its light combat aircraft while Britain also has a jungle training camp and helicopters in Brunei and a 1,200-strong Gurkha battalion, according to International Institute of Strategic Studies data. A report last month by the London-based IISS highlighted European defense firms' long-standing and expanding defense ties to Asia, even in the face of competition, particularly from Saudi Arabia and the United Arab Emirates as regional budgets rise. 'European companies, including Airbus, Damen, Naval Group and Thales, have a long-standing presence in Southeast Asia, and other European actors have established themselves in the market in the last decade, including Italy's Fincantieri and Sweden's Saab,' the IISS study said. Saab is close to securing a deal with US ally Thailand to supply its Gripen fighters, beating out Lockheed Martin's F-16s. The Stockholm International Peace Research Institute has reported that Asian defense spending rose 46 percent in the decade to 2024, reaching $629 billion. For Finnish officials at least, Hegseth's remarks resonated — it is Moscow rather than the Indo-Pacific that looms large for Helsinki given the country's long Russian border. 'When Europe's defense is in a good shape, then you will have resources to do something more,' Finnish Defense Minister Antti Hakkanen told Reuters. 'But now all the European countries must do their main focus on European defense so that the United States can do a bigger share in the Indo-Pacific area,' Hakkanen said.
Arab News
2 days ago
- Arab News
Meeting challenges, creating opportunities, sharing prosperity
Participants at the first Association of Southeast Asian Nations-China-GCC economic forum in Kuala Lumpur last week recognized the importance of strengthening cooperation to promote development goals and safeguard regional peace and prosperity. The forum was an important step forward in deepening practical cooperation. There was consensus on strengthening the partnership, advancing high-quality Belt and Road cooperation, and enhancing collaboration in areas such as connectivity, trade and economy, industrial and supply chains, agriculture, energy, and finance. The meeting also emphasized the importance of mutual learning among civilizations, closer coordination in multilateral frameworks, and joint efforts to promote integrated development. In his speech to the forum, Chinese Premier Li Qiang noted that if we drew a line on the world map connecting China, ASEAN and the GCC, we would create a large triangle — the most stable of structures. The forum marked not only a new milestone for emerging Asian economies in advancing regional integration, but also a significant endeavor by Global South countries to inject more positive energy into world peace and development. Geopolitical conflicts and confrontations are intensifying around the world. Protectionism and unilateralism are on the rise, decoupling practices, supply-chain disruptions and trade barriers are becoming more frequent. As a result, economic globalization is undergoing unprecedented shocks. In the face of these challenges, the three forum participants remain committed to deepening mutual trust and enhancing solidarity, expanding openness and removing barriers, sharing resources and empowering one another. By doing so, they can jointly create long-term strategic opportunities, vast market opportunities, and opportunities for transformation and upgrading. Such cooperation based on equality and mutual benefit, openness and inclusiveness, pragmatism and efficiency, will contribute to the international community's common efforts to uphold multilateralism and free trade. China will work with ASEAN and GCC countries to step up communication and coordination in mechanisms including the UN, vigorously defend the common interests of developing countries, categorically oppose hegemonism and power politics, and make global governance more just and equitable. China, ASEAN and the GCC account for roughly a quarter of the world's population and economic output. Our markets, if fully connected, will generate even greater space for development and more substantial economies of scale. China and ASEAN are each other's largest trading partners, while economic and trade cooperation between China and GCC countries continues to deepen, with expanding collaboration in areas such as energy, infrastructure, and high-tech industries. Looking ahead, as cooperation continues to deepen, China will actively advance the alignment of the Belt and Road Initiative with the development strategies of ASEAN and GCC countries. The resulting continuous growth in trade and investment will strongly support national development and enterprise growth across all sides. The smooth flow of production factors and enhanced industrial coordination will significantly boost the competitiveness and resilience of their economies, as well as their strength and standing in the global innovation landscape. The China–ASEAN–GCC framework is poised to become one of the most dynamic poles of global economic growth. More than 2,000 years ago, the earliest camel caravan from China reached the Middle East, and the first Chinese fleet landed in Nanyang: from the ancient Silk Road to the Belt and Road Initiative, China, ASEAN and GCC countries have a long history of friendly interactions, and more importantly, answered the call of the times. They are home to diverse and vibrant civilizations, and share the Asian values of peace, cooperation, openness, and inclusiveness. It is essential to promote deeper people-to-people exchanges to further strengthen the foundation of mutual trust, effectively manage differences through mutual understanding, and foster mutually beneficial cooperation through the exchange of ideas and wisdom. We in China are ready to work with ASEAN and the GCC to implement the Global Civilization Initiative, promote mutual learning among civilizations, create more consensus and pool our strengths for peace and development. Premier Li Qiang said at the summit that China would extend unilateral visa-free access to citizens of Saudi Arabia, Oman, Kuwait, and Bahrain for a one-year trial, which will effectively give visa-free status to all GCC countries. It reflects China's confidence, inclusiveness, and openness, and demonstrates the country's broad-minded commitment to promoting people-to-people connectivity and mutual learning among civilizations. From June 9, 2025 until June 8, 2026, ordinary passport holders from Saudi Arabia will be eligible to enter China visa-free for business, tourism, family visits, cultural exchanges, or transit, for stays of up to 30 days. As the Chinese saying goes: 'Is it not a joy to have friends coming from afar?' We warmly welcome more Saudi friends to seize the opportunity brought by the visa-free policy and embark on a spontaneous journey to China — to explore the vast and diverse landscapes, to savor the rich variety of regional cuisines, to make friends with the warm and hospitable Chinese people, and to experience the prosperity and dynamism of modern China. • Chang Hua is China's Ambassador to Saudi Arabia. X: @AmbChangHua
Arab News
3 days ago
- Arab News
Minister says Pakistan State Oil to expand into renewable energy
KARACHI: Pakistan State Oil (PSO), the country's largest fuel supplier, is preparing to diversify its operations into renewable energy and emerging sectors of the energy market, Petroleum Minister Ali Pervaiz Malik said during a high-level visit to the company's Karachi headquarters on Thursday. The move signals a strategic shift in Pakistan's state-owned energy sector as it seeks to modernize infrastructure, reduce emissions and align with global trends toward sustainability. Malik's visit, part of a broader government outreach to key industry stakeholders, comes amid the government's continuing efforts to reform Pakistan's fossil fuel-reliant energy mix and enhance long-term resilience. 'The government is fully committed to steering Pakistan's energy sector toward greater resilience, sustainability and innovation,' Malik said during meetings with PSO leadership and board members. 'Enhancing fuel quality, reducing emissions and advancing the transition to clean energy are central to this vision.' During the visit, PSO's top management briefed the minister on the company's performance, supply chain stability and automation initiatives. Officials also outlined plans to modernize PSO's infrastructure and develop forward-looking strategies to enter the renewable energy space, though no specific projects were announced. Malik praised PSO's role in maintaining reliable fuel supplies nationwide and pledged the government's full support in helping the company address operational challenges. He emphasized that policy alignment and cross-sector coordination would be key to creating a more efficient and consumer-focused energy ecosystem. The minister also met with representatives of the Oil Companies Advisory Committee (OCAC) and the Petroleum Dealers Association, where discussions focused on regulatory bottlenecks, profit margins and broader sectoral reforms. He assured participants that their concerns would be addressed through structured engagement. 'In the best interest of the country, all stakeholders must collaborate with a shared commitment to progress,' Malik said. 'Together, we can build a modern energy sector that meets the evolving needs of our nation.' Pakistan has faced recurring energy crises in recent years, with high fuel import bills, inconsistent power supplies and delayed infrastructure upgrades straining the economy. While some private and semi-public entities have begun pivoting to renewables, PSO's potential entry into the sector is expected to mark one of the first serious moves by a major state player.
