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Masdar, one of the world’s leading renewable energy companies, and PT PJBI, a subsidiary of Indonesia’s state-owned power company PT PLN, announced today that the Cirata floating photovoltaic power plant project has completed financial settlement and construction work has begun.
Financing for the project was arranged through Sumitomo Mitsui Banking Corporation, Societe Generale Bank and Standard Chartered Bank. It is the first floating solar power plant in Indonesia. PT is developing a 145 megawatt (ac) power plant. PembangkitanJawa Bali Masdar Solar Energi (PMSE) is a joint venture between Masdar and PT PJBI and is expected to start commercial operations in the fourth quarter of 2022.
“The Ministry of Investment fully supports PT’s investment in the Cirata floating solar project. PJBI and Masdar. This is the UAE’s flagship investment project in Indonesia. Most importantly, it is in line with the Indonesian government’s renewable energy structure by 2025. 23% target,” said His Excellency Bahlil Lahadalia, Minister of Investment of the Republic of Indonesia. Chairman of the Indonesian Investment Coordination Committee. “This project represents the UAE’s first investment in the renewable energy sector in Indonesia, and we look forward to further cooperation between the two countries as we use our natural resources to build a more sustainable future.”
His Excellency Abdulla Salem Al Dhaheri, Ambassador of the United Arab Emirates to the Republic of Indonesia and the ASEAN Region, said: “The achievement of this historic milestone demonstrates the strength of the relationship between Indonesia and the United Arab Emirates.” “The UAE is committed to promoting and investing in clean energy projects around the world. And take active actions on climate change. We stand together with Indonesia to promote sustainable development, and we will continue to support the country’s clean energy transition.”
The plant will be the largest of its kind in Southeast Asia and one of the largest in the world. It is being built on the Cirata Reservoir in West Java. After completion, it will provide enough electricity for 50,000 households, offset 214,000 tons of carbon dioxide emissions, and create up to 800 jobs. Throughout the development process of the project, Masdar carried out a series of social initiatives to raise awareness of sustainability issues and strengthen the participation of local communities.
Mohamed Jameel Al Ramahi said: “Without the continued support of the Indonesian government, our lenders, and our strategic partnerships with PJBI and PT PLN, they would be with us at every step of our journey. ,” Masdar CEO. “The designation of this project as a Strategic National Project (PSN) is invaluable for us to make such significant progress and shows that the government recognizes the economic and social benefits that the Cirata project will bring to local communities and Indonesia as a whole.”
PJBI President Amir Faisal said: “This floating power generation project is Indonesia’s first project and an important step in PJBI’s renewable energy journey.” “We see the huge potential of similar projects in Indonesia, and we look forward to continuing the fruitful development with Masdar. Cooperation to develop more renewable energy projects and help our country achieve its clean energy goals.”
Indonesia is the world’s largest archipelago. According to its power infrastructure acceleration plan, its goal is to generate 23% of its energy mix from renewable energy sources by 2025. The government also recently announced that its goal is to increase the proportion of renewable energy in the national power plan for 2021-2030 from 30% in the previous plan to at least 48%.
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