Saudi Arabia is expanding its investment in Indonesia's renewable energy sector through ACWA Power, a leading electricity generation company. ACWA Power is partnering with PT PLN Indonesia Power to develop the Saguling Floating Solar Power Plant in the Saguling Reservoir, West Java. The power purchase agreement (PPA) for this project was signed at PLN's headquarters in Jakarta on 13 August 2024. The Saguling Floating Solar Power Plant will span 95 hectares on the reservoir's surface and have a capacity of 95.3 MWp, generating 146 GWh annually—enough to power 66,000 households. The project represents a USD 75 million investment, with 75% of funding sourced from international loans and the remaining 25% from PLN Indonesia Power and ACWA Power. The joint venture, PT Indo ACWA Tenaga Saguling, was established to manage the project, with PLN Indonesia Power holding a 51% stake and ACWA Power holding 49%. The plant is expected to begin commercial operations by June 2026.
In addition to Saguling, ACWA Power and PLN are collaborating on the Singkarak Floating Solar Power Plant in West Sumatra, which will have a capacity of 76 MWp and generate 108 GWh annually. Construction for this project is set to begin in mid-2025, with operations starting in December 2026. The Karangkates Floating Solar Power Plant in Malang, East Java, another key project, is being developed through a partnership between PLN Nusantara Power, GD Power Hong Kong, and Perum Jasa Tirta I. With a capacity of 100 MWac, it is scheduled to be operational by 2025. These initiatives are part of a broader effort to accelerate Indonesia's transition to renewable energy, addressing climate change while fostering international collaboration and investment in sustainable energy.
