ACWA Power signs PPA for Indonesia’s 60MW floating solar project

Saudi-listed ACWA Power, recognized as the world’s largest private water desalination company has signed a Power Purchase Agreement (PPA) with Indonesia’s state-owned electricity utility, PT Perusahaan Listrik Negara (PLN), for the Saguling Floating Solar PV Project. This 60MW project marks ACWA Power’s first foray into floating solar technology. ACWA Power holds a 49% equity stake in the project, while the remaining 51% is owned by Indonesia Power, a subsidiary of PLN. The Saguling project will significantly contribute to Indonesia’s renewable energy strategy, with PLN serving as the offtaker for the solar power generated.