ACWA Power signs PPA for floating solar PV project in Indonesia

ACWA Power Co. signed a power purchase agreement (PPA) for the Saguling floating solar photovoltaic (PV) project in Indonesia with PT Perusahaan Listrik Negara- Persero or (PLN), Indonesia’s sole state-owned electricity utility.

In a statement to Tadawul, the company said the Saguling project, which is ACWA Power's first floating solar PV project, has a production capacity of 60 MW.

ACWA Power holds a 49% stake in the project, while the remaining share is owned by Indonesia Power, a subsidiary of PLN.

This project paves the way for leveraging growth potential in the country and represents a significant advancement towards achieving our sustainability goals, aligning with our commitment to responsible investment, said Thomas Brostrom, ACWA Power's Chief Business Development & Investment Officer.