Mooreast Holdings, listed on the Singapore Exchange Catalist, announced that it will begin feasibility studies this month for the development of up to 500 megawatts (MW) of large-scale renewable energy (RE) projects in Timor-Leste.

The studies follow a Letter of Intent (LOI) signed between Mooreast and the Secretario de Estado de Electricidade Agua e Saneamento (SEEAS), the secretariat for Electricity, Water and Sanitation under Timor-Leste’s Ministry of Public Works. Under the LOI, Mooreast will explore the development of 300–500 MW of floating renewable energy over the next five to ten years.

As part of the feasibility phase, Mooreast will evaluate suitable offshore locations along Timor-Leste’s coastline to harness floating wind, solar, hydroelectric, tidal, current, and wave energy.

The LOI forms the foundation of a broader two-phase Renewable Energy Development Plan aimed at accelerating the country’s shift toward sustainable energy. Timor-Leste, which currently depends heavily on diesel-fired power generation, has set a target of achieving 100 per cent electrification by 2030, supported by a diversification into clean energy. The nation recently became the 11th member of ASEAN at the 47th ASEAN Summit in Kuala Lumpur.

Beyond project development, Mooreast’s scope under the proposed plan also includes:

• Upgrading grid transmission and RE integration infrastructure
• Establishing pilot microgrids for remote communities
• Exploring power and hydrogen fuel export potential
• Introducing smart-grid and energy storage technologies

Mooreast has been granted 12 months of exclusivity to complete feasibility studies and outline commercial, technical, and financing models. A formal Project Development Agreement (PDA) is expected in the first half of 2026. The PDA will cover:

• Joint ventures for RE project development
• Green financing and investment frameworks
• Roles and responsibilities of Electricidade de Timor-Leste (EDTL)
• Mooreast’s EPCI and floating RE responsibilities
• Long-term Power Purchase Agreement terms

Mooreast, a specialist in offshore mooring and rigging solutions, is Asia’s only designer and manufacturer of ultra-high-power anchors. The Group is actively expanding its footprint globally amid rising adoption of floating wind technologies.

Eirik Ellingsen, CEO of Mooreast, said, “Timor-Leste has significant potential for floating renewable energy, which can drive economic development and support the nation’s electrification and sustainability goals. We are excited to bring our expertise and partnerships to deliver a mutually beneficial outcome.”