Saudi-listed ACWA Power has signed a Power Purchase Agreement (PPA) with PT Perusahaan Listrik Negara (Persero) (PLN), Indonesia’s state-owned electricity utility, for the Saguling Floating Solar PV Project. This marks ACWA Power’s debut in floating solar technology.
The Saguling project, with a planned capacity of 60 MW, will see ACWA Power holding a 49% equity stake, while the remainder will be owned by Indonesia Power, a PLN subsidiary. PLN will act as the offtake partner for the project.
This agreement highlights ACWA Power’s commitment to expanding its presence in Indonesia, supporting economic growth, and fostering a sustainable future. In addition to this project, ACWA Power is also working on Indonesia’s largest green hydrogen facility, the Garuda Hidrogen Hijau (GH2) Project, in collaboration with PLN.