Mooreast to Develop 500MW Renewable Energy Projects in Timor-Leste

Singapore Exchange Catalist-listed Mooreast Holdings Ltd. has announced a groundbreaking initiative to develop large-scale renewable energy projects of up to 500 megawatts in Timor-Leste. The company will commence feasibility studies this month following the signing of a Letter of Intent with Secretario de Estado de Electricidade Agua e Saneamento (SEEAS), Timor-Leste's secretariat for Electricity, Water and Sanitation. This ambitious five- to 10-year development plan represents a significant step toward harnessing the country's substantial untapped renewable resources, particularly its excellent wind potential along both northern and southern coastlines.

The comprehensive feasibility studies will involve due diligence and assessment of suitable offshore locations for various floating renewable energy technologies, including floating wind, solar, hydroelectric, tidal, current, and wave energy generation. Mooreast has secured 12 months of exclusivity to conduct these studies and evaluate commercial and financing models, with plans to formalize a Project Development Agreement by the first half of 2026. The agreement is expected to establish joint ventures, define investment models including green finance and fiscal incentives, and outline long-term Power Purchase Agreements. As part of the broader RE Development Plan, Mooreast will also upgrade grid transmission infrastructure, establish pilot microgrids for remote communities, explore power and hydrogen fuel export potential, and implement smart-grid technologies with energy storage systems.

Mooreast, Asia's only ultra-high power anchor designer and manufacturer, brings nearly three decades of expertise in mooring solutions from the offshore oil & gas and marine industries to this transformative project. The company has been expanding its presence in Europe and Asia amid growing commercialization of floating wind energy projects worldwide. CEO Eirik Ellingsen emphasized that Timor-Leste's significant floating renewable energy potential can drive economic growth while supporting national goals of achieving 100% electrification by 2030 and advancing sustainability objectives. This initiative represents a crucial step for Timor-Leste, which currently relies heavily on diesel-fired power plants and aims to substantially diversify its energy mix through renewable sources. The original release can be viewed on www.newmediawire.com, providing additional context about this landmark development in Southeast Asian renewable energy infrastructure.