A consortium led by Abu Dhabi-based developer Masdar has signed a PPA for a 200 MW floating solar project in Malaysia.
The Chereh Dam solar plant will be developed by Masdar in collaboration with Malaysian partners Citaglobal and Tiza Global. The consortium entered into the PPA with Malaysia’s national utility company, Tenaga Nasional Berhad.
The project, with a value estimated at over $208 million, is set to cover an area of approximately 950 acres (384 hectares) and provide enough energy to power over 100,000 homes. Masdar says it will be financed through a non-recourse project finance structure with participation from international lenders.
It was awarded under Malaysia’s fifth large scale solar program, the results of which were first revealed in September, after Masdar achieved the lowest tariff in the floating solar category.
The Chereh Dam project also marks Masdar’s entry into the Malaysian market. It is the inaugural project following the agreement of a 10 GW renewable energy roadmap between Masdar and the Malaysian Investment Development Authority in 2023. The developer is also progressing with a feasibility study for a large-scale floating solar installation at the Murum reservoir in Sarawak, in collaboration with Sarawak Energy and Gentari.
A statement from Masdar says the project will be the largest floating solar asset in southeast Asia once operational. The company has already deployed large-scale floating PV in the region via its 145 MW Cirata floating PV plant in West Java, Indonesia.
Mohamed Jameel Al Ramahi, Masdar’s Chief Executive Officer, added the project is the company’s largest floating solar asset globally to date. “By leveraging our experience in delivering utility-scale solutions worldwide, we can provide affordable, secure clean energy to the Malaysian people,” he added.
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