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Abu Dhabi Future Energy Company PJSC - Masdar has signed a power purchase agreement (PPA) to develop a 200-megawatt (MW) floating solar photovoltaic project at the Chereh Dam in Pahang State, Malaysia. The consortium includes Masdar, Citaglobal, and Tiza Global, with Tenaga Nasional Berhad as the utility partner.

The project, valued at over RM850 million (US$208 million), will occupy approximately 950 acres and is expected to power over 100,000 homes. It aims to support Malaysia's goal of increasing renewable energy to 35% of its energy mix by 2030.

Awarded through Malaysia's Large Scale Solar Cycle 5+ program, the project is the first under a 10-gigawatt renewable energy roadmap established with the Malaysian Investment Development Authority in 2023. Masdar is also exploring another floating solar project at the Murum reservoir in Sarawak. The project will utilize advanced technology and be financed through a non-recourse structure involving international lenders.