Abu Dhabi – Mubasher Abu Dhabi Future Energy Company (Masdar) and PT PLN (Persero), Indonesia’s state-owned electricity company, signed two agreements to advance floating solar power projects in Southeast Asia’s largest energy market.
The memorandum of understanding (MoU) aims to develop a floating solar power plant at the Jatigede Dam reservoir in West Java, according to a press release.
The development phase is due to commence this year, with completion scheduled for 2027.
Masdar and PLN also signed a principles of agreement to explore the potential expansion of Masdar’s 145MWac Cirata Floating Photovoltaic Power Plant, the first phase of which began operations in November 2023.
The joint deals build on the UAE’s strong relationship with Indonesia and will contribute to the country’s goal of achieving net-zero emissions by 2050.
Mohamed Jameel Al Ramahi, CEO of Masdar, said: “The Jatigede project will be a strong addition to our collaboration with PLN and its development, along with the expansion of our already record-breaking Cirata project, will enable us to build on our expertise in developing floating solar projects.”
“We look forward to building on the already powerful partnership we enjoy with PLN to further explore developing renewable energy projects that drive sustainable growth in Indonesia,” he added.
Darmawan Prasodjo, President Director of PT PLN (Persero), commented: “By expanding our renewable energy capacity, we’re reducing fossil fuel dependence, enhancing energy sustainability, and strengthening energy sovereignty while driving economic growth.”
Masdar recently completed the acquisition of a 70% stake in TERNA ENERGY, with an enterprise value of EUR 3.20 billion.
