Masdar consortium to develop floating solar project in Malaysia
Abu Dhabi Future Energy Company, better known as Masdar, will lead a consortium to develop a 200-megawatt floating photovoltaic solar project on a dam in Malaysia, touted to be the largest such undertaking in Southeast Asia.
Masdar, in a statement carried by UAE state-owned Wam news agency, said it would lead the consortium together with Citaglobal and Tiza Global for the project on Chereh Dam in Pahang State.
The project, valued at around $200 million, will cover 950 acres and have a generation capacity sufficient to power 10,000 homes.
The deal was secured through a tender, and the Masdar-led consortium proposed the lowest tariff. Masdar also runs the 145MW Cirata floating PV plant in West Java, Indonesia.
Malaysia aims to increase the share of renewables in its national energy mix to 35 percent by 2030. Masdar will play a prominent role in helping the Asian country achieve that goal.
Further reading:
- Masdar’s first battery storage project in the UK begins operations
- Masdar confirms leaving ReNew buyout consortium
- Masdar to increase bond issuances to fund renewables push
Masdar has a clean energy capacity of over 51 gigawatts and expects its portfolio to reach more than 100GW by 2030, the company said on its website.
The company has developed and partnered projects in more than 40 countries, cutting 14 million tonnes of carbon dioxide per year.
Masdar is held 43 percent by Abu Dhabi’s state-owned Taqa, 33 percent by Mubadala and 24 percent by Adnoc.
You May Also Like
Is Doge Losing Steam As Traders Choose Pepeto For The Best Crypto Investment?
Liquidity Boost Stabilizes Solana-Based Stablecoin USX After Market Drop
