Abu Dhabi Future Energy Company (Masdar), a global clean energy leader, has signed a power purchase agreement (PPA) for its first project in Malaysia to develop a 200-megawatt (MW) floating solar photovoltaic (PV) plant at the Chereh Dam in Pahang State.
The project will be developed by a Masdar-led consortium with Malaysian partners Citaglobal and Tiza Global, under a PPA signed with Tenaga Nasional Berhad, Malaysia’s national utility.
Once operational, the 200MW Chereh Dam plant will be Southeast Asia’s largest floating solar project, spanning about 950 acres with a capacity exceeding 300MWp (200MWac), enough to power more than 100,000 homes, with an estimated value of $208 million (RM850 million).
The investment strengthens Masdar’s role in accelerating Malaysia’s energy transition, supporting the country’s target to raise renewables to 35 percent of its energy mix by 2030, with floating solar playing a central role.
The project was awarded through Malaysia’s Large Scale Solar (LSS) Cycle 5+ tender, securing L1, the lowest tariff in the floating solar category, reflecting Masdar’s strong track record, including the 145MW Cirata floating solar plant in Indonesia.
The Chereh project is the first under the 10GW renewable energy roadmap agreed with the Malaysian Investment Development Authority in 2023. Masdar is also advancing a feasibility study for another floating solar project at the Murum reservoir in Sarawak, further supporting national energy strategies.
Masdar will work closely with Malaysian authorities and local stakeholders throughout development and operations to ensure smooth delivery and long-term value. The project will use advanced floating solar technology tailored to the Chereh Dam and be financed through a non-recourse structure backed by international lenders, underscoring strong market confidence.
Mohamed Jameel Al Ramahi CEO – Masdar
“This milestone project, our largest floating solar development globally and our inaugural project in Malaysia, reaffirms Masdar’s expertise in floating solar and our position as a trusted partner across the region. By leveraging our experience in delivering utility-scale solutions worldwide, we can provide affordable, secure clean energy to the Malaysian people. We look forward to working closely with Citaglobal, Tiza Global, and the Government of Malaysia to help deliver the country’s ambitious renewable energy roadmap.”
Tan Sri Dr. Mohamad Norza Zakaria said that the project highlights Citaglobal’s role as a long-term Malaysian partner, combining Masdar’s global expertise with strong local execution to deliver the Chereh floating solar project to international standards while strengthening Malaysia’s energy security and economic resilience.
Floating solar PV offers a land-efficient, scalable solution for water-rich, densely populated countries like Malaysia, improving generation efficiency through natural cooling while reducing evaporation and preserving freshwater. With operations in more than 40 countries and a target of 100GW of clean energy capacity by 2030, Masdar continues to deliver affordable, scalable projects aligned with national development goals.
