KUCHING: Chinese company CRE International Co Ltd, a global leader in renewable energy, and InvestSarawak, an agency under the purview of the Sarawak International Trade, Industry and Investment Ministry, will jointly explore solar and other renewable energy projects in Sarawak.
The projects are for an estimated capacity of 2 gigawatts (GW).
This follows the signing of a memorandum of understanding at the ministry, witnessed by Deputy Premier Datuk Awang Tengah Ali Hasan, today.
Under the MoU, CRE International and InvestSarawak will collaborate to identify suitable locations for renewable energy projects, define commercial and financial mechanisms for collaboration and liaise with local authorities to ensure successful project implementation.
CRE International is the renewable energy arm of China National Nuclear Corporation (CNNC).
This collaboration is part of Sarawak's broader strategy to meet net-zero carbon targets and contribute to the region's long-term energy goals.
The MoU will also serve as a framework for further discussions, with detailed agreements to be negotiated for specific renewable energy projects.
The partnership is expected to enhance Sarawak's renewable energy infrastructure, significantly contributing to economic growth and sustainability.
It also aims to explore potential solar and other renewable energy projects, including wind and energy storage solutions.
These projects, with a total potential investment of US$1.5 billion (RM6.44 billion), will boost Sarawak's renewable energy sector, further advancing the region's clean energy initiatives.
In his speech, Awang Tengah highlighted the importance of partnering with international companies like CRE International to accelerate Sarawak's energy transition.
"This collaboration is a pivotal moment in Sarawak's journey to becoming a leading renewable energy player in the region.
"We are committed to ensuring Sarawak's potential is fully realised, and partnerships like this will drive us forward," said the deputy premier, who is also international trade, industry and investment minister.
CRE International general manager Wang Qi, in his speech, expressed optimism in exploring Sarawak's energy landscape.
"Sarawak's rich natural resources and commitment to sustainability align perfectly with our mission to deliver innovative renewable energy solutions.
"We are excited to bring our expertise to Sarawak and contribute to its clean energy future," he added.
InvestSarawak chief executive officer Timothy Ong said the MoU reflects Sarawak's commitment to positioning the region as a premier investment destination in the renewable energy sector.