Abu Dhabi Future Power Firm PJSC – Masdar has entered the Malaysian marketplace for the primary time after signing an influence buy settlement to develop a 200-megawatt floating photo voltaic photovoltaic venture on the Chereh Dam in Pahang State.
As soon as operational, the plant would be the largest floating photo voltaic venture in Southeast Asia, marking a significant milestone for each Masdar and Malaysia’s clear vitality ambitions.
The venture will likely be developed by a consortium led by Masdar, along with Malaysian companions Citaglobal and Tiza International. The facility buy settlement was signed with Tenaga Nasional Berhad.
Southeast Asia’s largest floating photo voltaic venture
Occupying roughly 950 acres, the Chereh Dam floating photo voltaic plant may have a era capability exceeding 300MWp (200MWac), sufficient to energy the equal of greater than 100,000 houses. The venture worth is estimated at greater than RM850m ($208m).
The funding strengthens Masdar’s place as a companion in accelerating Malaysia’s vitality transition. Malaysia goals to extend the share of renewables in its nationwide vitality combine to 35 per cent by 2030, with floating photo voltaic anticipated to play a key position in assembly this goal.
Mohamed Jameel Al Ramahi, CEO of Masdar, stated: “This milestone venture, our largest floating photo voltaic growth globally and our inaugural venture in Malaysia, reaffirms Masdar’s experience in floating photo voltaic and our place as a trusted companion throughout the area.
“By leveraging our expertise in delivering utility-scale options worldwide, we will present reasonably priced, safe, clear vitality to the Malaysian folks.”
He stated he seems to be ahead to working carefully with Citaglobal, Tiza International and the Authorities of Malaysia to assist ship the nation’s renewable vitality roadmap.
Tan Sri Dr. Mohamad Norza Zakaria, Government Chairman and President of Citaglobal Berhad, stated the venture displays Citaglobal’s position as a long-term Malaysian companion in delivering sustainable vitality infrastructure.
“By combining Masdar’s world experience with Citaglobal’s sturdy native execution functionality and institutional understanding, this collaboration offers us confidence that the Chereh floating photo voltaic venture will likely be delivered to the very best worldwide requirements, whereas strengthening Malaysia’s vitality safety and long-term financial resilience.”
Tender win and wider roadmap
The venture was secured by means of a aggressive tender below Malaysia’s Giant Scale Photo voltaic Cycle 5+ programme, with the Masdar-led consortium reaching L1, the bottom tariff within the floating photo voltaic class.
Masdar’s world community and provide chain partnerships had been key to the profitable bid.
The award builds on Masdar’s monitor document in floating photo voltaic, together with the 145MW Cirata Floating PV Plant in West Java, Indonesia. The Chereh venture may even be the inaugural growth below a 10-gigawatt renewable vitality roadmap agreed between Masdar and the Malaysian Funding Improvement Authority in 2023.
Masdar can also be advancing a feasibility research for a floating photo voltaic set up on the Murum reservoir in Sarawak, in collaboration with Sarawak Power and Gentari. That venture would help Malaysia’s Nationwide Power Transition Roadmap and the New Industrial Grasp Plan 2030.
Know-how and financing
The Chereh floating photo voltaic plant will deploy superior know-how tailor-made to the dam’s distinctive traits to optimise efficiency, resilience and long-term effectivity.
The event will likely be financed by means of a non-recourse venture finance construction with participation from worldwide lenders, reflecting confidence within the venture’s fundamentals.
Masdar stated it can work carefully with Malaysian authorities and native stakeholders all through growth, development and operations.
Agreements reminiscent of the positioning settlement with Pahang Water & Power Assets are designed to make sure easy execution and long-term continuity past the industrial operation date.
With a worldwide portfolio spanning greater than 40 international locations and a mandate to ship 100GW of fresh vitality capability by 2030, Masdar continues to scale tasks that ship reasonably priced clear vitality aligned with nationwide growth objectives.
