21 Jumada I 1446 - 22 November 2024
    
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Eye of Riyadh
Business & Money | Wednesday 14 August, 2024 12:20 pm |
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ACWA Power signs PPA for floating solar PV project in Indonesia

ACWA Power Co. signed a power purchase agreement (PPA) for the Saguling floating solar photovoltaic (PV) project in Indonesia with PT Perusahaan Listrik Negara- Persero or (PLN), Indonesia’s sole state-owned electricity utility.

 

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, aligning with our commitment to responsible investment, said Thomas Brostrom, ACWA Power's Chief Business Development & Investment Officer.

 

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