Mooreast Holdings will initiate feasibility studies this month for large-scale renewable energy (RE) projects in Timor-Leste, with a potential capacity of up to 500 megawatts (MW).

The move follows the signing of a letter of intent between Mooreast and Timor-Leste’s Ministry of Public Works’ Secretariat for Electricity, Water, and Sanitation. The agreement outlines plans to develop 300–500 MW of floating RE projects over a five- to 10-year period.

Mooreast has secured a 12-month exclusivity period to conduct feasibility assessments, evaluate commercial viability, and propose financing models. A formal Project Development Agreement (PDA) is expected to be finalized in the first half of 2026.

The PDA is anticipated to include joint ventures for project development, investment and financing frameworks such as green finance and fiscal incentives, as well as co-investment opportunities with sovereign funds and financial institutions.

Additionally, the agreement will define the responsibilities of Timor-Leste’s state-owned energy company, Electricidade de Timor-Leste (EDTL), regarding necessary rights and permits. It will also outline Mooreast’s role in Engineering, Procurement, Construction, and Installation (EPCI) for floating RE projects, along with terms for long-term Power Purchase Agreements.

Mooreast will assess suitable offshore locations along Timor-Leste’s coastline for potential floating wind, solar, hydroelectric, tidal, current, and wave energy projects.

Shares of Mooreast remained unchanged at 12.2 cents as of November 11.