Masdar Advances Floating Solar with Indonesia Agreements
Deal News | Apr 11, 2025 | Zawya
Abu Dhabi Future Energy Company (Masdar) and PT PLN (Persero), Indonesia's state electricity company, have signed two key agreements to enhance floating solar power projects in Indonesia. A Memorandum of Understanding (MoU) outlines plans for developing a floating solar power plant at West Java's Jatigede Dam reservoir, following Masdar's success in the Hijaunesia 2023 bidding program with the lowest tariff. Construction is set to start this year with a 2027 completion goal. Additionally, a Principles of Agreement was signed to explore the expansion of the Cirata Floating Photovoltaic Power Plant, which began its first phase operations in November 2023. The agreements support Indonesia's ambition to achieve net-zero emissions by 2050 and coincide with a strategic state visit by Indonesia's President to the UAE. Masdar aims to strengthen its linkages in Indonesia, highlighted by the opening of an office in Jakarta in 2021 and an investment in Indonesia's geothermal energy sector earlier in 2023. Globally, Masdar has increased its renewable energy portfolio to reach 51GW by 2024 and is targeting 100GW by 2030, including being a leading green hydrogen producer by then.
Sectors
- Renewable Energy
- Energy & Utilities
Geography
- United Arab Emirates – Masdar is headquartered in the UAE and is involved in energy projects globally.
- Indonesia – The projects discussed will take place in Indonesia, highlighting the geographic focus of the agreements.
- Southeast Asia – Indonesia's location and its role as a major player in Southeast Asia's energy market are central to the article.
Industry
- Renewable Energy – The article discusses developments related to solar power projects, part of the renewable energy sector.
- Energy & Utilities – PT PLN (Persero) is involved in energy production and distribution, critical to the utilities sector.
Financials
- 145MWac – Capacity of the Cirata Floating Photovoltaic Power Plant, which is undergoing potential expansion.
- 75GW – The planned renewable energy capacity Indonesia aims to add in the next 15 years.
- 100GW by 2030 – Masdar's target renewable energy portfolio capacity.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Masdar (Abu Dhabi Future Energy Company PJSC) | Energy Developer | Company | Masdar is a global pioneer in renewable energy and developer of the floating solar projects discussed. |
| PT PLN (Persero) | State-Owned Electricity Provider | Company | Indonesia's state-owned company responsible for electricity production and distribution, partnering with Masdar. |
| Prabowo Subianto | President of Indonesia | People | Indonesia's President, whose state visit to the UAE facilitated the signing of the agreements. |
| Mohamed Jameel Al Ramahi | Chief Executive Officer | People | CEO of Masdar, signing agreements with PLN for the solar projects. |
| Darmawan Prasodjo | President Director | People | President Director of PT PLN (Persero), signing the agreements with Masdar. |