Abu Dhabi Future Energy Company PJSC – Masdar has announced its entry into the Malaysian renewable energy market with the signing of a power purchase agreement to develop a 200-megawatt (MW) floating solar photovoltaic (PV) project at the Chereh Dam in Pahang State.
The project will be delivered by a consortium led by Masdar in partnership with Malaysian firms Citaglobal and Tiza Global, under a PPA signed with Tenaga Nasional Berhad, Malaysia’s national electricity utility. Upon completion, the Chereh Dam project will become the largest floating solar facility in Southeast Asia.
Covering approximately 950 acres, the plant will have an installed capacity exceeding 300MWp (200MWac), generating enough electricity to supply more than 100,000 homes. The total investment value is estimated at over RM850 million (US$208 million).
The development strengthens Masdar’s role as a strategic partner in Malaysia’s energy transition, as the country works toward its goal of increasing renewable energy’s share of the national energy mix to 35 percent by 2030. Floating solar is expected to play a significant role in achieving this target.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said the project represents both Masdar’s largest floating solar development globally and its first project in Malaysia. He noted that the initiative highlights the company’s expertise in utility-scale floating solar solutions and its commitment to delivering affordable, reliable, and clean energy. He added that Masdar looks forward to collaborating closely with its Malaysian partners and government stakeholders to support the country’s renewable energy ambitions.
Tan Sri Dr. Mohamad Norza Zakaria, Executive Chairman and President of Citaglobal Berhad, said the project demonstrates Citaglobal’s long-term commitment to delivering sustainable energy infrastructure in Malaysia. He added that the collaboration combines Masdar’s international experience with strong local execution capabilities, supporting national energy security and long-term economic resilience.
The project was awarded through Malaysia’s Large Scale Solar (LSS) Cycle 5+ competitive tender process, where the consortium achieved the lowest tariff (L1) in the floating solar category. Masdar’s global supply chain expertise and track record in floating solar developments were key to the successful bid.
The Chereh Dam project is the first initiative under the 10-gigawatt renewable energy roadmap agreed between Masdar and the Malaysian Investment Development Authority (MIDA) in 2023. Masdar is also advancing a feasibility study for a floating solar project at the Murum reservoir in Sarawak, in partnership with Sarawak Energy and Gentari.
These initiatives support Malaysia’s National Energy Transition Roadmap and the New Industrial Master Plan 2030, while reinforcing Masdar’s commitment to close collaboration with local authorities and stakeholders. Agreements such as the Site Agreement with Pahang Water & Energy Resources are designed to ensure smooth execution, strong local integration, and long-term operational sustainability.
The Chereh floating solar plant will deploy advanced technology tailored to the dam’s unique characteristics, optimising efficiency, durability, and performance. The project will be financed through a non-recourse project finance structure involving international lenders, reflecting strong market confidence.
With a growing portfolio across more than 40 countries and a target of delivering 100GW of clean energy capacity by 2030, Masdar continues to advance large-scale renewable energy projects that support national development goals and the global energy transition.
