Mooring solutions provider Mooreast has commenced feasibility studies to develop up to 500MW of floating renewables in Timor-Leste.
This follows a letter of intent (LOI) signed with the country’s secretariat for Electricity, Water and Sanitation, to develop between 300MW and 500MW of floating renewables – including FPV – over a five- to 10-year period.
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Mooreast will have exclusivity for 12 months to conduct feasibility studies, evaluate and propose commercial and financing models. In the first half of 2026, it is expected that both parties will enter into a formal project development agreement (PDA), which will include the forming of joint ventures to develop the projects or the terms of the long-term power purchase agreements (PPAs), among others.
Eirik Ellingsen, CEO of Mooreast, said: “Timor-Leste has significant potential for floating renewable energy, which can be harnessed for economic growth and to achieve national goals of electrification and sustainability. We are excited by the opportunity to leverage our capabilities and networks to achieve a win-win formula.”
Moreover, Mooreast said the LOI is part of a broader proposal for the company to undertake a proposed renewable energy development plan in two phases, which aims to accelerate the development of renewable energy projects in the country.
The development of up to 500MW of renewable energy projects would allow the country to diversify its energy capacity, which currently relies mostly on diesel-fired power plants.
Southeast Asia has long been a leading region for the development of floating solar and offshore solar, as shown in a report from analyst Wood Mackenzie last year. Wood Mackenzie forecasts that 81% of the installed FPV by 2033 will be located in the Asia Pacific region, which comprises Southeast Asia, but also China, Japan and Australia, among other countries.
Mooreast has worked on four FPV projects, including an FPV demonstration with developer Sunseap, a subsidiary of EDPR, in Singapore and a 520kW pilot project in the Netherlands with floating solar company SolarDuck and German energy company RWE.
