ACWA Power Signs $10 Billion Strategic Partnerships in Indonesia

ACWA Power announced the signing of a Memorandum of Understanding (MoU) with the Indonesian Investment Management Authority (Dantara Indonesia), as well as a strategic partnership with PT Pertamina, the Indonesian oil, natural gas, and mining company, to develop $10 billion worth of power generation and water desalination projects in Indonesia.

The company said in a statement that the first MoU between Dantara Indonesia and ACWA Power represents a framework for exploring investment opportunities in Indonesia, focusing on renewable energy projects, combined cycle gas turbines, green hydrogen, and water desalination. The second agreement, signed with PT Petramina, aims to launch clean energy projects in Indonesia. These include developing technology for renewable energy and gas projects, with the goal of generating a total capacity of 500 megawatts, along with new power generation tenders, green hydrogen projects, and operations and maintenance.

The company added that these investments significantly contribute to supporting Indonesia’s efforts to achieve its ambitious clean energy goals, which include achieving a 34% renewable energy share in the energy mix by 2034 and 87% by 2060, making it one of the world’s leading players in this field.

Raad Al Saadi, Vice Chairman and Managing Director of ACWA Power, said: “We are proud to strengthen our presence in the power and water sectors in Indonesia through these agreements, which reflect ACWA Power’s commitment to supporting Indonesia’s long-term energy and water security goals and contributing to building a sustainable and greener future.”