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Wednesday, 29 November 2017, 14:00 HKT/SGT

Source: Indonesian Ministry of Energy and Mineral Resources
First Floating Solar Power Plant to be built in Indonesia

JAKARTA, Nov 29, 2017 - (ACN Newswire) - Indonesian Vice Minister of Energy and Mineral Resource (ESDM), Arcandra Tahar, accompanied by United Arab Emirates (UAE) Ambassador to Indonesia, Mohamed Abdulla Mohammed Bin Mutleq Alghafli, on Tuesday witnessed the signing of the project development agreement for a floating solar power plant between PT Pembangkitan Jawa Bali (PJB), a subsidiary of Indonesian power utility Perusahaan Listrik Negara (PLN), and United Arab Emirates' Abu Dhabi Future Energy Co (MASDAR). The signing follows the MoU which was signed on July 16 in Abu Dhabi, UAE on the Development of Renewable Large Scale Power Projects in Indonesia.

"I'm pleased that this is the next, further step of the MoU signed already. The project will build the first floating solar power plant in Indonesia. In addition, it is expected to enable lower electricity tariff than local electricity supply costs (BPP); for example, at West Java the BPP could be below US$6.5 cent/kWh. Because if you push for a tariff that's higher than the BPP, it is going to be difficult," said Tahar.

Both parties aim to finalize a power purchase agreement with PLN before year end. The 200MW-capacity solar plant will be located in Cirata dam, owned by PT PJB. The feasibility and grid interconnection study was completed in late September 2017, and has already been handed over to PT PLN.

PJB Chief Executive Iwan Agung Firstantara added, "The project will occupy over 200 hectares of the PLN's Cirata hydroelectric plant reservoir, and will accelerate renewable energy development in Indonesia."

MASDAR CEO Mohammed Al Ramahi said the project will not only be the largest in Indonesia, but also in the world. "I'm very pleased with the agreement, given that Mubadalla has also been a partnership for more than 10 years, and now MASDAR will build the world's largest floating solar power plant."

The signing of the agreement is part of the Indonesian government's commitment towards the development of renewable energy, which is expected to contribute significantly to the country's 23% energy mix derived from the renewable energy by 2025.

"The Indonesian government highly welcomes investors to do business in Indonesia. We offer a healthy business climate, with a tariff that is lower than BPP," concluded Tahar.

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Nov 29, 2017 14:00 HKT/SGT
Topic: Government
Sectors: Metals/Mining, Energy, Environment
From the Asia Corporate News Network

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