Mooreast to Develop Up to 500 MW Renewable Energy Projects in Timor-Leste
Singapore's Mooreast Holdings will conduct feasibility studies for large-scale floating renewable energy projects in Timor-Leste, potentially transforming the country's energy landscape and supporting its 100% electrification goal by 2030.
Singapore Exchange Catalist-listed Mooreast Holdings Ltd. announced it will commence feasibility studies this month to develop large-scale renewable energy projects of up to 500 megawatts in Timor-Leste. The studies follow a Letter of Intent with Secretario de Estado de Electricidade Agua e Saneamento, the secretariat for Electricity, Water and Sanitation under Timor-Leste's Ministry of Public Works, to develop between 300 and 500 MW of floating renewable energy over a five- to 10-year period.
Mooreast will conduct due diligence and assessment of locations off Timor-Leste's coastline suitable for developing projects generating energy from floating wind, solar, hydroelectric, tidal, current and wave sources. This initiative represents a significant step toward harnessing the country's substantial untapped renewable resources, particularly the excellent wind potential along both north and south coasts. Timor-Leste, which currently relies mostly on diesel-fired power plants, has targeted achieving 100% national electrification by 2030 through substantial diversification into renewable energy sources.
The renewable energy development plan will proceed in two phases, with Mooreast receiving 12 months of exclusivity to conduct feasibility studies and evaluate commercial and financing models. Both parties are expected to enter into a formal Project Development Agreement in the first half of 2026. The agreement will likely include joint ventures for project development, establishment of investment and financing models incorporating green finance and fiscal incentives, and definition of responsibilities for state-owned electricity company Electricidade de Timor-Leste regarding necessary rights and permits.
As part of the comprehensive development plan, Mooreast will also be engaged to upgrade grid transmission and infrastructure for renewable energy integration, establish pilot microgrids for remote communities, explore potential power and hydrogen fuel exports, and introduce smart-grid technologies and energy storage systems. The company, which specializes in mooring and rigging solutions for the offshore and marine sector, is Asia's only ultra-high power anchor designer and manufacturer. More information about the company's capabilities can be found at https://mooreast.com/.
Mr Eirik Ellingsen, CEO of Mooreast, emphasized the significance of the partnership, stating that Timor-Leste possesses significant potential for floating renewable energy that can be harnessed for economic growth while achieving national goals of electrification and sustainability. The initiative comes as Timor-Leste was formally admitted as the 11th member of the Association of Southeast Asian Nations last month, positioning the country for increased regional cooperation and development opportunities in the renewable energy sector.