- New Jatigede floating solar plant to begin development in 2024, following Masdar’s lowest-tariff bid in Indonesia’s Hijaunesia 2023 program.
- Expansion of Cirata Floating Photovoltaic Power Plant on track after feasibility study and regulatory support.
- Agreements support Indonesia’s ambitious 75GW renewable energy target and its net-zero emissions goal by 2050.
Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s leading renewable energy firm, has signed two pivotal agreements with PT PLN (Persero), Indonesia’s state-owned electricity company, to significantly advance floating solar power deployment in Southeast Asia’s largest energy market.
The agreements were signed during the state visit of H.E. Prabowo Subianto, President of the Republic of Indonesia, to the UAE, marking a critical step forward in Indonesia’s decarbonization efforts and expanding energy partnership with the UAE.
A Memorandum of Understanding (MoU) was formalized for the development of a floating solar power plant at the Jatigede Dam reservoir in West Java. The project follows Masdar’s successful bid in the 2023 Hijaunesia program, where it achieved the lowest tariff. Development is scheduled to begin this year, with project completion targeted for 2027.
“The Jatigede project will be a strong addition to our collaboration with PLN and its development, along with the expansion of our already record-breaking Cirata project, will enable us to build on our expertise in developing floating solar projects,” said Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar.
“These agreements also demonstrate our continuing commitment to supporting Indonesia’s ambitious renewable energy objectives. We look forward to building on the already powerful partnership we enjoy with PLN to further explore developing renewable energy projects that drive sustainable growth in Indonesia.”
In addition, Masdar and PLN signed a ‘Principles of Agreement’ to explore expanding the 145MWac Cirata Floating Photovoltaic Power Plant, the largest of its kind in Southeast Asia. The plant began operations in November 2023 and currently generates clean electricity for 50,000 homes, displacing 214,000 tonnes of carbon emissions annually.
PLN President Director Dr. Darmawan Prasodjo emphasized the collaboration’s strategic importance:
“PLN is fully committed to leading Indonesia’s energy transition. These collaborations are a testament to the shared global effort needed to address the climate crisis. By expanding our renewable energy capacity, we’re reducing fossil fuel dependence, enhancing energy sustainability, and strengthening energy sovereignty while driving economic growth.”
The Cirata expansion builds on earlier regulatory reforms that increased the allowable proportion of water surface coverage for renewable energy. Following these reforms, Masdar and PLN completed feasibility studies in 2023, paving the way for this next development phase.
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Indonesia’s geography—an archipelago of over 17,000 islands and more than 600 natural lakes and reservoirs—positions it as a natural hub for floating solar deployment. With over 75GW of renewable energy capacity planned in the next 15 years, floating solar is set to play a central role in achieving the nation’s net-zero target by 2050.
In support of this vision, the Indonesian government recently launched Danantara Indonesia, a strategic investment management agency aimed at enhancing global competitiveness and optimizing assets of key state-owned enterprises such as PLN.
Masdar opened its Jakarta office in 2021 and has been rapidly scaling its regional operations. The company also marked its entry into Indonesia’s geothermal sector in 2023. Globally, Masdar has expanded its renewable energy portfolio from 20GW in 2022 to 51GW by the end of 2024, with a strategic goal of reaching 100GW and becoming a top green hydrogen producer by 2030.
These agreements further reinforce the UAE’s investment strategy in Southeast Asia’s energy transition and underscore Masdar’s commitment to pioneering renewable innovation across diverse geographies.
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