ACWA Power inks deals for multi-billion-dollar power project in Indonesia

The projects will include renewable energy generation and green hydrogen.

Riyadh-based ACWA Power has inked agreements for various projects that will expand Indonesia’s renewable energy generation capacity.

In a statement, ACWA Power said one of the agreements was with Badan Pengelola Investasi Daya Anagata Nusantara (Danantara Indonesia). This will cover projects in renewable energy generation, combined cycle gas turbines, green hydrogen and water desalination.

The second agreement was with the state-owned oil and gas corporation PT Pertamina. Their partnership includes the development of 500 megawatts of renewable energy and gas-to-power projects, new electricity tenders, green hydrogen projects, and operation and maintenance business lines.

“With a total project funding of up to $10b, this partnership will help Indonesia in achieving its target of a 34% mix of renewables in its total energy mix by 2034 and 87% by 2060, signalling a vast potential to become a clean energy leader in the coming years,” ACWA Power said.