Abu Dhabi Future Energy Company PJSC (Masdar), a global clean energy giant, has signed a power purchase agreement (PPA) for its first project in Malaysia, to build a 200-MW floating solar plant at the Chereh Dam in Pahang, local media reported.

The project will be developed by a Masdar-led consortium with Malaysian partners Citaglobal and Tiza Global, under the PPA signed with Tenaga Nasional Berhad, Malaysia's national utility.

Spanning about 950 acres, the 200-MW plant is expected to be Southeast Asia's largest floating solar project. It is enough to power more than 100,000 homes, with estimated value of over RM850 million ($209.27 million), said the report.

The investment strengthens Masdar's role in accelerating Malaysia's energy transition, supporting the country's target to raise renewables to 35% of its energy mix by 2030, with floating solar playing a central role.

The plant will adopt 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.

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 100 GW of clean energy capacity by 2030, Masdar continues to deliver affordable, scalable projects aligned with national development goals.