Masdar and PT PJBI form joint venture to drive development of Indonesia's first floating solar power plant

ABU DHABI, UAE, Dec. 17, 2020 /PRNewswire/ -- Masdar, one of the world's leading renewable energy companies, and PT PJBI, a subsidiary of Indonesia's state electricity company PT PLN (Persero), today announced the formation of a joint venture to drive the development of the Cirata Floating Photovoltaic Power Plant – Indonesia's first floating PV project.

The new company, PT. Pembangkitan Jawa Bali Masdar Solar Energi (PMSE), was formally announced at a ceremony at the Cirata reservoir in West Java, where the project will be located. The event was held as part of UAE-Indonesia Week, taking place throughout this week to mark the close ties between the two nations.

"This partnership will help to strengthen the already-powerful ties of friendship and bilateral collaboration between the UAE and Indonesia," said His Excellency Abdulla Salem Al Dhaheri, the UAE Ambassador to Indonesia and the ASEAN region. "The UAE has committed to not only diversifying its energy mix but to extending its expertise outside its own borders. The Cirata project marks the UAE's first investment in Indonesia's renewable energy sector, and will contribute to the nation's sustainable development."

The Cirata ceremony also celebrates the significant progress made this year on the project, which is the largest of its kind in Southeast Asia and one of the largest in the world, and is scheduled to start construction in the first part of 2021. Since Masdar announced the 145-megawatt (ac) plant at Abu Dhabi Sustainability Week this January, it has been designated a National Strategic Project (PSN) by the Indonesian government, giving it priority status and recognizing its economic and social benefits to the nation.

"The creation of this joint venture company, PMSE, will enable us to continue the exceptional progress we have made on the Cirata Floating Photovoltaic Power Plant with our development partner PT PJBI," said Mohamed Jameel Al Ramahi, CEO of Masdar. "This project marks our entry into Southeast Asia, where we see tremendous potential, given the region's rapid economic growth and commitment to sustainable development. It also demonstrates the continuing strong relationship enjoyed between the United Arab Emirates and Indonesia, and will support the transfer and exchange of knowledge between our two countries. Masdar looks forward to extend its successful collaboration and strategic partnership with PJBI and PLN to expand its presence and investments in Indonesia."

"The development of the 145 MWac Cirata Floating PV is a big step for PJBI – a subsidiary of PJB – to develop a business and partnership as an electricity producer in Indonesia. Through our joint venture company PJBI with Masdar, we commit to contribute to the development of new renewable energy power plants. We hope this collaboration will be the first step in PJBI and Masdar's cooperation in Indonesia and in the region," said Gunawan Yudi H, President Director of PJBI.

Upon completion, the Cirata Floating Photovoltaic Power Plant, which will be located on a 250-hectare plot on the 6200-hectare reservoir, will power 50,000 homes, offset 214,000 tons of carbon dioxide emissions and contribute to the creation of up to 800 jobs.

Indonesia, the world's largest archipelago, is targeting 23 percent of its energy mix coming from renewables by 2025 under its Electricity Infrastructure Acceleration Program. The government is currently considering plans to develop an additional 60 floating PV plants, capitalizing on its more than 600 lakes and reservoirs, and helping to preserve precious land resources.

Scaling up renewables could save Indonesia, the largest energy user in the Association of Southeast Asian Nations (ASEAN) region, as much as US$ 51.7 billion per year when the impacts on air pollution and climate change are included, according to the International Renewable Energy Agency (IRENA).

Delivering a sustainable recovery in a post-COVID-19 world will be a key topic at the ADSW Summit, being held next month as part of Abu Dhabi Sustainability Week. Hosted by Masdar, the virtual summit will bring together leaders from policy, business and technology to reimagine sustainable development and open up social, economic and technological avenues of collaboration.

For more information please visit:

http://www.masdar.ae Connect: facebook.com/masdar.ae, twitter.com/Masdar

http://www.pjbinvest.com

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Authors: PR Newswire