For its first floating solar photovoltaic project in Indonesia, state-owned PT Perusahaan Listrik Negara and Saudi-listed ACWA Power have inked a power purchase deal.
With a 60 megawatt capacity, the Saguling Floating Solar PV Project is being developed. PLN subsidiary Indonesia Power owns the remaining 49 percent of the equity interest. ACWA Power is the project developer.
According to a press release, PLN will serve as the offtake partner for this project, which meets Indonesia’s renewable energy ambitions.
This comes after PLN announced in late 2022 that ACWA Power has been chosen to create two floating solar PV projects: the Saguling and Singkarak Floating Solar PV Projects.
These initiatives, which total $105 million in investment, are essential to Indonesia’s National General Energy Plan, which seeks to achieve a 23 percent share of renewable energy by 2025.
“We’re thrilled to announce our PPA agreement for the Saguling floating solar project,” stated Thomas Brostrom, chief investment officer of ACWA Power. This is ACWA Power’s first project in Indonesia, and it sets the stage for the potential for expansion that we observe. This signing is in line with our mission to lead responsible investment and represents a major step toward accomplishing our sustainability goals.
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