Masdar starts construction on 200MW solar energy project in Malaysia
Abu Dhabi clean energy company Masdar has started construction on its first project in Malaysia, set to be one of the largest floating solar developments in South-East Asia. The 200MW Chereh Dam solar photovoltaic project in Parang state is being built by a consortium that also includes Malaysia's Citaglobal construction company and investment firm Tiza Global, Masdar said on Thursday. The…
Abu Dhabi energy firm Masdar has begun building its inaugural venture in Malaysia, an ambitious 200MW floating solar project in the state of Pahang. The $208 million initiative, known as the Chereh Dam solar photovoltaic project, will be constructed by a collaboration between Masdar, Malaysia's Citaglobal construction firm, and investment company Tiza Global. The project's financing was secured on Tuesday through a $142.9 million loan package from three international lenders.
The Chereh Dam project is expected to produce enough renewable energy to power 100,000 homes, generate around 1,500 jobs, and stimulate economic growth in the region. Masdar's involvement combines its expertise in floating solar technologies, such as the 145MW Cirata project in Indonesia, with Citaglobal's infrastructure and energy capabilities, and Tiza's local stakeholder engagement experience.
Mohamed Al Ramahi, Masdar's chief executive, emphasized the strategic significance of Malaysia and Southeast Asia as demand for electricity grows, renewable energy potential expands, and investments continue to increase. Al Ramahi stated that the Chereh project underscores Masdar's long-term commitment to Malaysia and its expansion across Southeast Asia.
Masdar, jointly owned by Taqa, Adnoc, and Mubadala, has already established projects in various countries, with a combined capacity exceeding 65 gigawatts. The company recently signed agreements to develop power plants in Indonesia and build renewable energy projects in the Philippines. Masdar recently launched a battery energy storage system project in the UK and completed a major construction phase for a $5.42 billion offshore wind farm off the English coast.
The Chereh Dam project represents Masdar's commitment to responsibly utilizing natural resources to support Malaysia's renewable energy goals while bringing benefits to local communities and industries, according to Sultan of Pahang Abdullah Riayatuddin Al Mustafa Billah Shah.
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