Saudi Arabia-based ACWA Power has partnered with PT Perusahaan Listrik Negara (PLN) and PT Pupuk Indonesia to develop the largest green hydrogen facility in Indonesia called the Garuda Hidrogen Hijau (GH2) Project. The USD1 billion project will run on 600 MW of solar and wind power and will produce 150,000 tons of green ammonia annually and is expected to start commercial operations by 2026.
The bidding process for engineering, procurement and construction (EPC) for the project is expected to begin in Q1 2024 and financial closing is planned for the end of 2025.
Moreover, ACWA Power was awarded the contracts to develop two floating offshore solar photovoltaic (PV) plants in Indonesia in October 2022. The projects will have a combined capacity of 100 MWac and will be developed at USD105 million and are expected to achieve the target of RE share of 23 per cent by 2025.