PPA for floating solar project in Malaysia: Abu Dhabi Future Energy Company Masdar has signed a power purchase agreement (PPA) for its maiden project in Malaysia. The investment is expected to cost over MYR 850 million. Along with its project partners Malaysia’s Citaglobal and Tiza Global, it signed the PPA with national utility Tenaga Nasional Berhad for the 300 MW DC/200 MW AC floating solar PV project at the Chereh Dam in Pahang State. The company claims that upon completion, it will be the largest floating solar project in Southeast Asia, covering around 950 acres of surface space. It will also be Masdar’s largest floating solar development globally, said Masdar CEO Mohamed Jameel Al Ramahi. The company secured this project under the country’s Large Scale Solar (LSS) round 5 (LSS5). It will be the inaugural project under the 10 GW renewable energy roadmap agreed between Masdar and Malaysian Investment Development Authority (MIDA) in 2023.
100% RE for ACEN: ACEN, the renewable energy arm of Philippines-based conglomerate Ayala Corporation and its listed energy company, has announced achieving 100% renewable energy generation across its portfolio earlier in 2025. Its renewable energy portfolio has grown to over 7 GW of attributable capacity, spanning operational, under-construction projects, as well as those supported by signed agreements. Solar makes up the lion’s share with 4.63 GW. This is a growth from the 1 GW of installed capacity it reached in 2016, with only a 2% renewable energy share, as the portfolio was largely anchored on coal. ACEN says it made a deliberate pivot towards renewable energy to reach this milestone by reshaping its strategy, redirecting capital, and building the capabilities needed to scale clean energy across multiple markets, and eventually exit coal. The Philippines is its core market, but it is also present elsewhere in the Asia Pacific, including Vietnam, India, and Lao PDR.
21-year PPA for Malaysia project: A consortium led by Solarvest Holdings Berhad has entered a 21-year PPA with Tenaga Nasional Berhad for a 470 MW AC large-scale solar PV project under the country’s LSS PETRA 5+ Programme. Other members of the consortium include Malakoff Corporation Berhad, Malakoff Silver Solar Sdn. Bhd. (MSSSB). MSSSB is a special-purpose vehicle jointly owned by Solarvest and Malakoff in a 20:80 shareholding. Under the PPA, MSSSB will design, construct, own, operate, and maintain the project at Windsor Estate in Larut and Matang, Perak Darul Ridzuan. Recurring revenue will come in through the sale of solar energy to TNB. The project is scheduled to begin commercial operations in H1 2028.
1.1 GW solar project advances in Australia: Denmark’s European Energy has secured planning approval for its 1.1 GW Upper Calliope Solar Farm in Queensland, Australia. Located near Gladstone, the project’s full output is contracted under a 25-year PPA with mining group Rio Tinto to power its aluminum smelting and alumina refining operations in the region. With this approval, the project has moved to final design, grid connection processes, and construction preparation.
