Saudi-listed ACWA Power has signed a Power Purchase Agreement (PPA) with state-owned electricity utility PT Perusahaan Listrik Negara (Persero) (PLN) for a 60MW Saguling Floating Solar PV Project in Indonesia.
ACWA Power, a developer, investor, co-owner and operator of a portfolio of power generation, renewable energy and desalinated water production plants, shared that this is its first floating solar PV project, in which it has a 49 per cent equity stake. The rest is held by Indonesia Power, a subsidiary of PLN, which serves as the offtake partner for these projects.
Thomas Brostrom, Chief Investment Officer of ACWA Power, commented: “We’re thrilled to announce our PPA agreement for the Saguling floating solar project. This project is the first for ACWA Power in Indonesia and paves the way for the growth potential we see.
“This signing is a significant development in achieving our sustainability goals, aligning with our aim to lead in responsible investment.”