Malaysia’s ambitions in the global green hydrogen economy received a boost as Bin Zayed International M Berhad (BZI) entered into a Strategic Partnership Agreement (SPA) with Nova RE Suria Sdn. Bhd. (NRES). The agreement marks a landmark collaboration to develop the Paka Green Hydrogen Plant Project (PGH2P) in Terengganu, which will see BZI coming on board as lead investor in the PGH2P project, spearheaded by NRES.

A group photo capturing all signatories and witnesses commemorating the milestone partnership. (L-R) Ding Qian, President of CEIG (M) Sdn. Bhd, Mohd Fozae Samad, Head of Commercial Division of Nova RE Suria, Yusuf Izzul Syafiq Mohd Izhar, Vice President of Business Development of Nova RE Suria, Mr. Sun Yongbin, Vice President, North China Power Engineering, Mr. Jiang Jiao, Deputy General Manager, China Energy Engineering Group Jiangsu Power Design Institute, Wan Khairul Hakimin Wan Ahamad, General Manager Industrial and Development, Perbadanan Memajukan Iktisad Negeri Terengganu (PMINT), Mohd Izhar Ibrahim, CEO & Director, Nova RE Suria, Datuk Norazuwan Aziz, Director of Nova RE Suria, H.H. Sheikh Khalifa Khaled Zayed Saquer Alnehayan, Chief Executive Officer, Bin Zayed International DMCC, H.H. Sheikh Khaled Zayed Saquer Zayed Alnahyan, Chairman and Founder of the Bin Zayed International Group of Companies, Dato’ Sri Dr. Shamir Kumar Nandy, Group Managing Director of Bin Zayed International, H.E. Sheikh Midhat Kidwai, Group Executive Director of Bin Zayed International (M) Berhad, Zhang Deliang, CEEC Executive President of Southeast HQ, Wang Kai, General Manager, Jiangsu Guofu Hydrogen Energy Equipment, Jason Shen, Country Manager, Jiangsu Guofu Hydrogen Energy Equipment, Nor Shahmir Nor Shahid, Executive Director of Bin Zayed International (M) Berhad, Dennis Chua Hock Beng, Managing Director of Bin Zayed (S) Pte Ltd, Parvin Raj, Chief Operating Officer of Bin Zayed (S) Pte Ltd

The partnership positions Malaysia on the map of emerging hydrogen economies at a time when the world is accelerating efforts to decarbonise power, industry and heavy transport. For BZI, whose international portfolio spans into the fields of energy, infrastructure and technology, the move signals a deliberate push into future-focused green assets that aligns both with global energy transitions.

“The PGH2P project represents a commitment to Malaysia’s long-term energy resilience and a belief in the country’s potential to lead Southeast Asia’s transition to clean hydrogen. BZI is proud to collaborate in this initiative, which also reflects our continued commitment to pioneering high-impact clean-energy investments, while reinforcing our ambition to support Malaysia’s energy-transition agenda,” said Dato’ Sri Dr. Shamir Kumar Nandy, Group Managing Director of Bin Zayed International.

For Nova RE Suria Sdn. Bhd., the partnership represents a milestone in its push to accelerate Malaysia’s adoption of future-ready energy solutions. With the backing of Malaysian renewable energy developers and foreign institutional investors, NRES was established as a dedicated vehicle to mobilise capital, technology and industrial partnerships for hydrogen development.

Signing of the Strategic Partnership Agreement, marking a landmark collaboration to advance the development of the Paka Green Hydrogen Plant in Terengganu.

“PGH2P is a catalytic project that showcases Malaysia’s capability to produce world-class green hydrogen at scale. The recent signing with BZI brings not just institutional strength, but also a shared commitment to driving innovation, sustainability and long-term value creation. Together with BZI, we look forward to building a foundation that positions Malaysia competitively in the global hydrogen marketplace,” said Mohd. Izhar Bin Ibrahim, Director of Nova RE Suria Sdn. Bhd.

A first-mover advantage in Malaysia’s hydrogen journey

Located in Paka, Terengganu, the PGH2P project is envisioned as one of the first large-scale green hydrogen facilities in Malaysia. The project will comprise a 200 MW ALK Electrolysers hydrogen production plant, powered by grid-supplied renewable energy.

At full capacity, PGH2P is expected to produce nearly 30,000 tonnes of green hydrogen per year, supplying both domestic industrial off-takers and international buyers.

Supporting the project, a sophisticated ecosystem is being assembled. The project has also secured a framework EPC agreement with China Energy Engineering Corporation (CEEC) - one of the world’s largest infrastructure and energy engineering conglomerates - to develop the hydrogen facility. The project also includes a strategic cooperation with China Jiangsu Guofu Hydrogen Energy Equipment Co., Ltd. (GUOFUHEE) to support the promotion and global distribution of green hydrogen and its derivatives, including green ammonia and green methanol.

The EPCC Framework Agreement formalises CEEC’s role in delivering key engineering and construction capabilities for the PGH2P project.

The PGH2P project forms part of a broader integrated green power complex, capable of supplying carbon-free fuel for local consumption while also producing premium-grade hydrogen for export. Such dual functionality positions it as a flagship model for future green infrastructure collaborations.

The Strategic Cooperation Framework Agreement strengthens collaboration to advance hydrogen technology deployment for PGH2P.

Capitalising on the global hydrogen boom

The PGH2P project comes at a time when Malaysia’s hydrogen generation market is forecast to grow at a modest 4.8% CAGR through 2030. Meanwhile, the broader global ecosystem surrounding hydrogen - particularly purification, storage, and engineering solutions - is expanding far more rapidly. The hydrogen purification equipment market alone is projected to grow at around 14.6% CAGR between 2025 and 2033, signalling surging global demand.

This creates a timely opportunity for Malaysia. With strategic geographical positioning, strong industrial capabilities, and supportive government frameworks, the country is increasingly seen as a viable player in Asia’s emerging hydrogen value chain. The PGH₂P project positions Malaysia to secure a meaningful first-mover advantage and establish an early foothold in a sector set to define the next era of clean energy, aligned with the Zero Carbon Emission 2050 vision and supported by national frameworks including the NETR and the HETR.

As nations worldwide accelerate their hydrogen strategies, early movers are defining the next era of clean energy leadership, and Malaysia is positioning itself firmly among them. The PGH2P project offers the country a rare opportunity to secure a competitive foothold in the global hydrogen economy, while serving as a model for public–private collaboration, enabling industrial decarbonisation, catalysing green technology deployment, and attracting high-value investments and talent.

With the SPA signed recently between BZI and NRES, the project reinforces Malaysia’s pathway toward decarbonisation, catalyses the country’s clean energy transition, and signals its intent, ambition, and readiness to play a leading role in the rapidly accelerating clean-energy landscape.

This content is provided by GO Communications.

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