Masdar, Mitrabara form renewables firm for Indonesia’s C&I segment
The joint venture will operate under the brand Solar Radiance.
Renewables firm Masdar and PT Mitrabara Adiperdana Tbk (Mitrabara) formed a joint venture focussing on Indonesia’s renewable energy market’s commercial and industrial (C&I) segment.
The joint venture, PT Masdar Mitra Solar Radiance, will be known as the Solar Radiance brand, Masdar said in a statement.
Mitrabara CEO Khoirudin said Indonesia is “lagging behind” its neighbouring countries in the region in terms of availability of renewable energy for the growing needs of companies to reduce their carbon emissions.
“We believe that Solar Radiance will be able to accelerate the implementation of Solar Energy solutions in Indonesia, especially since Solar Energy is an abundant resource that is still underutilised. The knowledge, experience, and expertise that Masdar and Mitrabara brings to the joint venture is unique in the market and will ensure the best solution for our customers,” he said.
Fawaz Al Muharrami, acting executive director, Clean Energy of Masdar, said the joint venture firm will support energy diversification efforts of Masdar’s C&I customers in Indonesia and will also contribute to climate action.
Masdar noted that Indonesia’s C&I segment will see “very rapid growth,” noting that the country target’s at least 51% of its added power capacity will come from renewable sources by 2030.