ACWA Power Malaysia Deals Reach $10B Investment Potential
Riyadh, Saudi Arabia — ACWA Power Malaysia partnerships are unlocking up to USD 10 billion in clean energy and water infrastructure. The agreements, signed during the ASEAN-GCC Summit in Kuala Lumpur, mark a significant step in ACWA Power’s Southeast Asia strategy.
ACWA Power is the world’s largest private water desalination company. It is also a key player in the production of green hydrogen and renewable energy. Through new Memoranda of Understanding (MoUs) and Strategic Partnership Agreements (SPAs), the company is aligning with Malaysia’s energy goals and Saudi Vision 2030.
“These agreements show our shared vision for climate leadership,” said Marco Arcelli, CEO of ACWA Power. “Together, we are accelerating clean energy, supporting local jobs, and transferring technology.”
$10 Billion Energy Framework
One significant Memorandum of Understanding (MoU) is with the Malaysian Investment Development Authority (MIDA). It sets out plans to develop up to 12.5 GW of power capacity by 2040. The total investment could reach USD 10 billion. This supports Malaysia’s goal of achieving 70% renewable energy by 2050.
In addition, ACWA Power Malaysia partnerships include Joint Development Agreements with TNB, Terengganu Inc., and UEM Lestra. These deals encompass floating solar (FPV), combined-cycle gas turbines (CCGT), and large-scale desalination projects. These projects will boost Malaysia’s clean energy infrastructure.
Strengthening Saudi-ASEAN Energy Ties
These partnerships also highlight Saudi Arabia’s growing role in the region. Through ACWA Power Malaysia, the Kingdom is deepening ties with ASEAN nations.
Moreover, these deals support both countries’ decarbonization plans. The focus is on green hydrogen, advanced desalination, and scalable renewable energy sources.
Today, ACWA Power operates in 14 countries. Its global portfolio is worth over USD 107.5 billion. The company remains committed to leading energy transition through innovation and strong international cooperation.
