Facebook has revealed plans to buy electricity from a 5 MW floating solar array in the Straits of Johor. The project will sell power through a virtual power purchase agreement.
The project, on the Tengeh reservoir, will sell power to the city state’s Public Utilities Board under a 25-year power purchase agreement.
State-owned Masdar Clean Energy is in talks to acquire a 30-35% stake in Hero Future Energies. With the stake sale, the renewable energy arm of Hero Group expects to raise $300-350 million for its expansion into global markets, according to reports.
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