Masdar has inked two agreements with PT PLN, Indonesia’s state-owned electricity company for the development of floating solar power projects in Indonesia. The two companies have inked a MoU to develop a floating solar power plant at the Jatigede Dam reservoir in West Java. Furthermore, the project is being developed after Masdar secured the lowest tariff in the Hijaunesia 2023 bidding program. Development of the solar plant is scheduled to begin in 2025, and completion is scheduled for 2027.
The two companies also inked a ‘Principles of Agreement’ to explore the expansion of Masdar’s 145 MWac Cirata floating photovoltaic power plant. The first phase of this project began operations in November 2023. The aim is to triple its capacity to 500 MW from the initial 145 MW phase.
Furthermore, Masdar inked an agreement with Pertamina Power Indonesia to develop solar, wind and green hydrogen projects in Indonesia and globally. Moreover, it has received approval to proceed towards developing up to 2 GW of renewable energy in Nusantara, starting with 200 MW as phase 1, in Indonesia’s new capital city.
REGlobal’s Views: Indonesia has emerged as a top destination for floating solar development with more than 600 natural lakes and reservoirs. The attractive cost economics of floating solar in the country has increased their demand not just in the utility-scale space but also in the C&I space.
