Singapore-based Mooreast has started feasibility studies to develop up to 500 MW of floating renewable energy projects in Timor-Leste in Southeast Asia.
The feasibility studies have been confirmed to progress after Mooreast entered into a Letter of Intent (LOI) with Secretario de Estado de Electricidade Agua e Saneamento (SEEAS), the secretariat for Electricity, Water and Sanitation under Timor-Leste’s Ministry of Public Works, to develop between 300 MW and 500 MW of floating renewable energy over a five- to ten-year period.
Mooreast said it will conduct due diligence and assessment of locations off Timor-Leste’s coastline that would be suitable for the development of projects to generate energy from floating wind, solar, hydroelectric, tidal, current, and wave.
The company will also assess options for grid upgrades, microgrids for remote communities, explore the potential to export power and hydrogen fuel, and develop systems for energy storage.
Mooreast will have exclusivity for twelve months to conduct feasibility studies, evaluate, and propose commercial and financing models. Both parties are expected to enter into a formal Project Development Agreement (PDA) in the first half of 2026.
The agreement will define the joint venture structure and financing approach, including the use of green finance. It will also set out the role of state-owned utility Electricidade de Timor-Leste and the framework for long-term power purchase agreements.