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 challenge on the Chereh Dam in Pahang State.
As soon as operational, the plant would be the largest floating photo voltaic challenge in Southeast Asia, marking a significant milestone for each Masdar and Malaysia’s clear power ambitions.
The challenge shall be developed by a consortium led by Masdar, along with Malaysian companions Citaglobal and Tiza World. The ability buy settlement was signed with Tenaga Nasional Berhad.
Southeast Asia’s largest floating photo voltaic challenge
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 challenge worth is estimated at greater than RM850m ($208m).
The funding strengthens Masdar’s place as a accomplice in accelerating Malaysia’s power transition. Malaysia goals to extend the share of renewables in its nationwide power 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 challenge, our largest floating photo voltaic improvement globally and our inaugural challenge in Malaysia, reaffirms Masdar’s experience in floating photo voltaic and our place as a trusted accomplice throughout the area.
“By leveraging our expertise in delivering utility-scale options worldwide, we are able to present inexpensive, safe, clear power to the Malaysian folks.”
He stated he seems to be ahead to working carefully with Citaglobal, Tiza World and the Authorities of Malaysia to assist ship the nation’s renewable power roadmap.
Tan Sri Dr. Mohamad Norza Zakaria, Govt Chairman and President of Citaglobal Berhad, stated the challenge displays Citaglobal’s position as a long-term Malaysian accomplice in delivering sustainable power infrastructure.
“By combining Masdar’s international experience with Citaglobal’s sturdy native execution functionality and institutional understanding, this collaboration provides us confidence that the Chereh floating photo voltaic challenge shall be delivered to the best worldwide requirements, whereas strengthening Malaysia’s power safety and long-term financial resilience.”
Tender win and wider roadmap
The challenge was secured by means of a aggressive tender below Malaysia’s Massive Scale Photo voltaic Cycle 5+ programme, with the Masdar-led consortium attaining L1, the bottom tariff within the floating photo voltaic class.
Masdar’s international community and provide chain partnerships have been key to the profitable bid.
The award builds on Masdar’s monitor file in floating photo voltaic, together with the 145MW Cirata Floating PV Plant in West Java, Indonesia. The Chereh challenge will even be the inaugural improvement below a 10-gigawatt renewable power roadmap agreed between Masdar and the Malaysian Funding Growth Authority in 2023.
Masdar can also be advancing a feasibility examine for a floating photo voltaic set up on the Murum reservoir in Sarawak, in collaboration with Sarawak Power and Gentari. That challenge 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 expertise tailor-made to the dam’s distinctive traits to optimise efficiency, resilience and long-term effectivity.
The event shall be financed by means of a non-recourse challenge finance construction with participation from worldwide lenders, reflecting confidence within the challenge’s fundamentals.
Masdar stated it’ll work carefully with Malaysian authorities and native stakeholders all through improvement, development and operations.
Agreements reminiscent of the location settlement with Pahang Water & Power Assets are designed to make sure clean execution and long-term continuity past the business operation date.
With a world portfolio spanning greater than 40 international locations and a mandate to ship 100GW of fresh power capability by 2030, Masdar continues to scale tasks that ship inexpensive clear power aligned with nationwide improvement objectives.
