BAKU, Azerbaijan, October 30. Masdar, Citaglobal Berhad and TIZA Global Sdn Bhd have officially launched construction of a 200-megawatt (MW) floating solar photovoltaic (PV) project at Chereh Dam in Malaysia's Pahang state, Masdar said on October 29.
The project is being developed by Chereh Solar Sdn Bhd, a joint project company established by the partners, and is expected to become operational in 2028.
The facility is expected to be one of Southeast Asia's largest floating solar developments, generating enough clean electricity to meet the needs of approximately 100,000 households. Its development and construction are also expected to create around 1,500 jobs.
"The project combines Masdar’s floating solar experience, including its work on the 145MW Cirata project in Indonesia, with Citaglobal’s infrastructure and energy development capabilities and TIZA Global’s project development and local stakeholder engagement experience," Masdar said.
Financial close for the project was achieved on October 27, with approximately 580 million Malaysian ringgit secured from three international lenders.
According to Masdar, the financing structure is designed to align project funding with future revenues, while attracting international investment into Malaysia's renewable energy sector and supporting long-term local economic participation.
Chereh Solar Sdn Bhd signed a power purchase agreement (PPA) with Malaysia's national utility company, Tenaga Nasional Berhad, in December 2025. Under the 21-year agreement, the utility will purchase electricity generated by the facility from the start of commercial operations.
The project was awarded through a competitive tender under Malaysia's Large Scale Solar (LSS) Cycle 5+ programme. The consortium submitted the lowest tariff bid in the floating solar category.
For Citaglobal, the investment represents an expansion of its renewable power generation activities alongside its established infrastructure business. The Chereh project is a key component of the group's New Energy platform, which also covers solar, hydropower and Bio-CNG initiatives.
For Masdar, the project marks its entry into the Malaysian market and represents the first development under the 10-gigawatt renewable energy roadmap agreed with the Malaysian Investment Development Authority (MIDA) in 2023. The company is also advancing a feasibility study for a major floating solar project at the Murum reservoir in Sarawak.
The partners will cooperate with Malaysian authorities, local communities and other stakeholders throughout the project's development, construction and operational phases. A Site Agreement has also been signed with Pahang Water & Energy Resources to facilitate its implementation.
The use of an existing reservoir for solar power generation is expected to reduce the need for additional land for solar installations.
Malaysia aims to increase the share of renewable energy in its installed electricity generation capacity to 35% by 2030, with floating solar projects expected to play a significant role in achieving this target.
