The investment plan is part of a Memorandum of Understanding (MoU) signed during a meeting between representatives of the Malaysian Investment Development Authority (MIDA) and Abu Dhabi Future Energy (Masdar) of the UAE on Thursday.
The Malaysian government aims to generate 70 per cent of its total energy installation from renewable sources by 2050, compared to about 25 per cent as at the end of March this year. The Malaysian government estimates it will need to invest 637 billion ringgit ($135 billion) to achieve this goal.
Anwar also said that Malaysia and the UAE will specifically pursue the co-operation through an investment agreement between MIDA and the UAE International Investors Council.
