Mooreast to Commence Feasibility Studies in Timor-Leste; Shares Surge Over 8%
MT Newswires
Nov 12
Mooreast (SGX:1V3) will commence feasibility studies to develop large-scale renewable energy projects in Timor-Leste after signing a letter of intent with the country's secretariat for electricity.
Shares of the company surged over 8% in Wednesday trading.
The study is for the development of over 500 MW of floating renewable energy projects, according to a Tuesday filing with the Singapore Exchange.
Through the study, the company will conduct assessment of locations around the country's coastline to assess suitable areas for project deployment.
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