Signing of Power Purchase Agreement for Saguling Floating PV Power Plant 60 MW Between PT PLN (Persero) and PT Indo ACWA Tenaga Saguling
We’re thrilled to extend our congratulations to our clients ACWA Power and PLN Indonesia Power, and to PT PLN (Persero), on the signing of the highly-anticipated Power Purchase Agreement for the development of the 60 MWac Floating Solar Power Plant at Saguling Reservoir, West Java, Indonesia. This project marks ACWA Power’s first venture in Indonesia and its second in the Southeast Asian region, as well as the company’s inaugural floating solar PV project, adding to its extensive power plant development to its total power portfolio of 43 GW. This milestone further solidifies ACWA Power’s position as a leading developer, investor, and operator of power generation worldwide.
The Saguling Floating Solar Power Plant, which will utilize the surface area of the Saguling reservoir, is expected to generate 60 MWac of electricity to PLN, contributing to PT PLN’s (Persero) goal of achieving 20.9 GW of renewable energy capacity by 2030 and supporting Indonesia’s ambitious plan to meet its 23% renewable energy target by 2025 under the National General Energy Plan. ACWA Power’s involvement in this project marks the first renewable energy investment by Saudi Arabia in Indonesia. The signing ceremony, attended by the Kingdom of Saudi Arabia Ambassador to Indonesia, H.E. Faisal bin Abdullah Al-Amudi, symbolizes the strengthening relationship between the two countries in the renewable energy sector. It also serves as an invitation to both Indonesian and foreign investors to further explore and expand investment opportunities in Indonesia, particularly in the renewable energy sector.
Under the leadership of our Head of the Power and Renewable Practice Group, Kirana Sastrawijaya, and Managing Partner, Pramudya A. Oktavinanda, supported by Senior Associates Ajeng Ayuningtyas and Zuhal Dwi Saputra and Associates Shafira Nadya Sembiring, Shinta Wulandari Basuki, and Reggy Dio Geo Fanny, our team expertly navigated the complex landscape of power project development in Indonesia, providing advice during the preparation of the PPA, the structuring of the project company, and addressing multifaceted legal challenges, particularly those arising from the intricate 51:49 ownership structure.
We are honored to support ACWA Power, PT PLN Indonesia Power and PT PLN (Persero) in reaching this critical milestone and in advancing clean energy deployment through this significant partnership between an Indonesian State-Owned Enterprise and a leading Saudi Arabian power developer.
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Link to media coverage:
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FEATURED LAWYERS
Kirana D. Sastrawijaya
Senior Partner
Pramudya A. Oktavinanda
Managing Partner