Abu Dhabi, UAE – Abu Dhabi Future Energy Company “Masdar”, the global leader in the field of clean energy, announced the signing of an energy purchase agreement to develop its first projects in Malaysia.
The project involves a 200 MW floating solar photovoltaic power plant, which will be implemented at the Sheri Dam in Pahang, Malaysia.
The project will be developed by a consortium led by Masdar in cooperation with the Malaysian companies SITA Global and TISA Global.
The power purchase agreement was signed with the Malaysian national electricity utility company, Tenaga Nacional Berhad.
When operational, the 200 MW Shirre Dam Solar Power Plant will become the largest floating solar project in Southeast Asia.
The station extends over an area of approximately 950 acres, and its maximum production capacity will exceed 300 MW at peak (200 MW alternating current).
This is enough to supply electricity to more than 100,000 homes in Malaysia.
The project is estimated to be worth more than RM850 million (US$208 million).
This investment would contribute to strengthening Masdar’s position as a major partner that supports Malaysia’s efforts to accelerate a qualitative shift in the energy sector.
Increasing the proportion of renewable energy
Malaysia has set clear goals to raise the proportion of renewable energy in the national energy mix to 35% by 2030.
Floating solar energy is expected to play a pivotal role in achieving these goals.
The Cherry Floating Solar Power Plant represents the first project in plans to develop 10 gigawatts of renewable energy projects in Malaysia.
Which was agreed between Masdar and the Malaysian Investment Development Authority in 2023.
This project is expected to enhance Malaysia’s capacity to produce renewable energy and support its national strategies.
Including the National Roadmap for Energy Sector Transformation and the New Industrial Plan 2030.
Advanced floating solar energy technologies will be employed in this project.
It is designed to conform to the unique shape and characteristics of the Sherri Dam, enhancing long-term performance, flexibility and operating efficiency.
The project will be financed according to a formula (without the right of return), with the participation of international lenders, which reflects the market’s confidence in the project and its components.
