ACWA Power to build 110MWac of floating PV projects in Indonesia

Facebook
Twitter
LinkedIn
Reddit
Email
The plants mark both ACWA Power’s first floating PV project and its first installation in Indonesia. image: ACWA Power

Saudi Arabian renewables developer ACWA Power will enter the Indonesian market with two floating solar PV projects after being chosen by PT Perusahaan Listrik Negara (PLN), Indonesia’s only state-owned electricity utility.

The plants – Saguling Floating Solar PV project and Singkarak Floating Solar PV Project – will constitute 60MWac and 50MWac of capacity respectively, and mark both ACWA Power’s first floating PV project and its first installation in Indonesia.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The installations represent an investment of US$105 million combined.

ACWA holds a 49% stake in the projects, whilst the rest is owned by Indonesia power, a subsidiary of PLN.

The offtake partner in this deal and the sole state-owned electricity utility in the country, PLN controls and operates approximately 69% of generation capacity in Indonesia. As of the end of 2021, it controls over 64.5GW of generation capacity.

ACWA Power has said that the projects will help Indonesia reach its renewable energy target of 23% by 2025 as part of the country’s National General Energy Plan.

“[Indonesia] is an exciting market as there is government support, an understanding of global challenges, considerable demand and an urgent need to supply the country’s numerous residents,” said Clive Turton chief investment officer of ACWA Power. “As we mark our market entry into Indonesia, we are committed to making a positive impact with our partners, offtaker and consumers.”

The Saudi company posted strong H1 results this year, reporting an operating income of US$307.46 million during the first half of 2022. It also operates another Southeast Asia facility, the 50MW Vin Hao 6 solar power plant in Vietnam. 

The announcement comes as the largest Asian economies can expect exponential growth in their solar capacities through 2030, with the continent set to lead the global growth in floating PV installations over the next decade.

PLN and ACWA Power are yet to finalise the power purchase agreement for these projects.

Read Next

August 22, 2025
Saudi developer ACWA Power has started commercial operations of a 2.7GW solar PV portfolio in its home country.
August 22, 2025
AEMO has predicted the NEM will see a steady rise in renewable energy generation capacity, reaching 229TWh by 2035.
August 21, 2025
National Thermal Power Corporation (NTPC), through its renewable energy arm NTPC Green Energy, has commissioned 212.5MW of solar capacity at its 1.25GW Khavda-I project. 
August 21, 2025
Qair has secured a US$5.7 million senior debt facility to finance the development of a 5.8MW floating solar (FPV) project in Seychelles.
August 20, 2025
Blueleaf Energy has signed an MoU with Chemsain Sustainability to explore a portfolio of up to 3GW of solar PV and BESS in Malaysia.
August 20, 2025
The consortium building the Al Sadawi PV power plant in Saudi Arabia has reached financial close on the 2GW project.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines