Masdar is all set to develop largest floating solar power plant in Southeast Asia and explore green hydrogen opportunities.
For this, the company has inked agreements to collaborate with Indonesia's state-owned utility company, PLN.
The duo signed a framework agreement for a joint study into the tripling of floating solar power plant Cirata's capacity to up to 500MW. The floating solar plant has a capacity of 145MW, which is located on the Cirata reservoir in West Java, Indonesia.
Masdar's chief executive Mohamed Jameel Al Ramahi was quoted in a statement, "Masdar looks forward to expanding its pioneering clean energy work with PLN. We were extremely proud to inaugurate the 145MW (192MWp) floating solar power plant with our valued partners earlier this month. The plant powers homes, cuts emissions, has created jobs and reduced land use because it is built on water.”
The partnership comes at a time when the Southeast Asia is a key investment destination for Masdar due to abundant renewable resources.
Besides floating plant, the companies have also agreed to explore renewable energy options and the prospect of developing green hydrogen globally.
Masdar’s chief further remarked, "Through our deepening cooperation with PLN, we will continue pioneering innovation in solar, green hydrogen and other key areas in support of the region's energy transition."