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.

  • 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.

26 November 2024
Málaga, Spain
Understanding PV module supply to the European market in 2025. PV ModuleTech Europe 2024 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
17 June 2025
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 17-18 June 2025, will be our fourth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2026 and beyond.

Read Next

July 12, 2024
China started conducting a trade and investment barrier investigation on the measures used in the EU’s Foreign Subsidies Regulation (FAR).
July 12, 2024
Swiss Utility BKW Energie AG has sign a power purchase agreement with food and beverage company Nestlé in Germany.
July 12, 2024
China is building two-thirds of new solar and wind projects globally as it is building 180GW of utility-scale of solar generation capacity.
July 12, 2024
Spanish inverter manufacturer Ingeteam has signed a supply agreement for Enel Green Power Australia’s 93MW Girgarre solar farm.
July 11, 2024
Iberdrola has signed a power purchase agreement with fast food chain Burger King to supply power from part of a 553MW solar PV plant. 
July 11, 2024
Dimension Renewable Energy has announced a new name and a plan to operate 500MW community solar projects by the end of next year.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
July 31, 2024
1:00 PM (BST) / 2:00PM (CEST)
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia
Solar Media Events
October 8, 2024
San Francisco Bay Area, USA
Solar Media Events
October 15, 2024
Santiago, Chile