ACWA Power signs PPA for floating solar PV project in Indonesia

14/08/2024 Argaam

ACWA Power signs PPA for floating solar PV project in Indonesia

Logo of ACWA Power Co.

ACWA Power Co. signed a power purchase agreement (PPA) for the Saguling floating solar photovoltaic (PV) project in Indonesia with state-owned PT Perusahaan Listrik Negara (PLN).

 

In a statement to Tadawul, the company said the Saguling project, which is ACWA Power's first floating solar PV project, has a production capacity of 60 MW.

 

ACWA Power holds a 49% stake in the project, while the remaining share is owned by Indonesia Power, a subsidiary of PLN.

 

This project paves the way for leveraging growth potential in the country and represents a significant advancement towards achieving our sustainability goals, Thomas Brostrom, ACWA Power's Chief Business Development & Investment Officer said.

 

It aligns with the company’s commitment to responsible investment, he added.

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