Masdar has signed two major agreements with Indonesia’s state-owned utility PLN to develop and expand floating solar power projects, reinforcing Indonesia’s 2050 net-zero target.
A new floating solar power plant will be developed at the Jatigede Dam, with work starting in 2025 following Masdar’s lowest-tariff win in Indonesia’s Hijaunesia 2023 program. Separately, Masdar and PLN signed a Principles of Agreement to explore the expansion of the 145 MWac Cirata plant, Southeast Asia’s largest floating solar facility, operational since November 2023.
The projects support Indonesia’s plan to install 75 GW of renewable capacity by 2040 and capitalise on its geography of 17,000 islands and over 600 reservoirs. Masdar, which opened its Jakarta office in 2021, continues expanding its regional footprint, including geothermal ventures and a global goal of 100 GW of renewable capacity by 2030.