ACWA Power has signed a memorandum of understanding with the Malaysian Investment Development Authority to explore the development of up to 12.5GW of power generation capacity in Malaysia by 2040. The initial investment for this project is set to reach $10bn. Additionally, ACWA Power has partnered with Tenaga Nasional Berhad, Terengganu, and UEM Lestra to conduct feasibility studies and jointly develop various energy projects, including combined cycle-gas turbine and large-scale water desalination. These collaborations were announced at the ASEAN–GCC Summit in Kuala Lumpur. The focus of these partnerships is on leveraging expertise in renewables, water desalination, and green hydrogen to accelerate clean energy development. Marco Arcelli, the CEO of ACWA Power, emphasized that this collaboration plays a crucial role in helping Malaysia achieve its goal of increasing its installed renewable energy capacity to 70% by 2050. Moreover, the Malaysian government aims to produce two million tonnes of hydrogen annually by 2030. ACWA Power's recent international initiatives also include signing MoUs worth $500m with the US and partnering with KBR for large-scale projects utilizing the latter's expertise in ammonia technology and engineering services.