ACWA Power to develop two floating solar photovoltaic power projects
Saudi energy firm ACWA Power is all set to develop two floating solar photovoltaic power projects. It is ACWA Power’s first floating solar PV projects.
The company has already secured a contract from the Indonesian state-owned utility PT Perusahaan Listrik Negara (PLN) for the same. A total investment of $105 million will be needed to develop the projects.
The duo is on the way to finalize the power purchase agreements for these projects.
According to ACWA Power, “the contract covers the 60MWac Saguling project and Singkarak, a floating solar project with 50MWac of capacity.”
It has been informed that the projects will have a combined capacity of 110Mwac.
According to the company, it will have a 49% equity stake in both projects, while the remaining stake will be owned by PLN subsidiary Indonesia Power.
ACWA Power chief investment officer Clive Turton, was quoted, “As one of the world’s most populous countries, and a major consumer of conventional energy sources, any steps in Indonesia to mitigate greenhouse gas emissions will make a big impact in the global fight against climate change.”
A local report mentioned that the projects will be ACWA Power’s second and third in South-East Asia.