Mooreast Holdings will begin feasibility studies this month to develop large-scale renewable energy (RE) projects of up to 500 megawatts (MW) in Timor-Leste.
This comes after Mooreast entered into a letter of intent with the secretariat for Electricity, Water and Sanitation under Timor-Leste’s Ministry of Public Works, to develop between 300 and 500 MW of floating RE over a five- to 10-year period.
Mooreast will have exclusivity for 12 months to conduct feasibility studies, evaluate and propose commercial and financing models. Both parties will then enter into a formal Project Development Agreement (PDA), likely in the first half of 2026.
The agreement will then be expected to include joint ventures to develop the projects, establishing investment and financing models including green finance and fiscal incentives and co-investment opportunities with sovereign funds and financial institutions, among others.
It is also expected to include the defining of responsibilities of the state-owned electricity and
energy company, Electricidade de Timor-Leste (EDTL), relating to necessary rights and permits; and defining the role of Mooreast, including for Engineering, Procurement, Construction and Installation (EPCI) and floating RE; and the terms of long-term Power Purchase Agreements.
Mooreast said it will conduct due diligence and assessment of locations off Timor-Leste's coastline that would be suitable for development of projects to generate energy from floating wind, solar, hydroelectric, tidal, current and wave.
See also: Straits Trading sells stake in Australian industrial portfolio to Cromwell Property Group
Shares in Mooreast closed flat at 12.2 cents on Nov 11.
