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

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 Timor-Leste's substantial untapped renewable energy resources, particularly the excellent wind potential along the country's 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 be implemented in two phases and includes broader infrastructure upgrades beyond power generation. 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 export opportunities, and introduce smart-grid technologies and systems for energy storage. These comprehensive measures could fundamentally transform Timor-Leste's energy infrastructure and economic development trajectory.

Mooreast has secured exclusivity for 12 months 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, definition of responsibilities for state-owned electricity company Electricidade de Timor-Leste regarding necessary rights and permits, specification of Mooreast's role in Engineering, Procurement, Construction and Installation for floating renewable energy projects, and terms for long-term Power Purchase Agreements.

As Asia's only ultra-high power anchor designer and manufacturer, Mooreast brings specialized expertise from the offshore and marine sector to this ambitious renewable energy initiative. The company has been expanding its presence in Europe and Asia amid increasing commercialization of floating wind energy projects worldwide. More information about Mooreast's capabilities and projects can be found at https://mooreast.com/. This development comes as Timor-Leste was formally admitted as the 11th member of the Association of Southeast Asian Nations last month, potentially opening additional regional cooperation opportunities for renewable energy development and infrastructure modernization.