Masdar signs Memorandum of Understanding (MoU) with Tuas Power, EDF Renewables, and PT Indonesia Power to explore development of up to 1.2 gigawatt (GW) solar capacity within Indonesia
Agreement aims to establish a partnership for export of electricity to Singapore market
Masdar, one of the world’s leading renewable energy companies, announced today that it has signed a Memorandum of Understanding (MoU) with Singapore’s Tuas Power, France’s EDF Renewables, and PT Indonesia Power to explore the development of renewable energy within Indonesia for export to Singapore.
The agreement envisages the development of solar photovoltaic (PV) facilities with a capacity of as much as 1.2 gigawatts (GW), and potential associated storage. Singapore is looking to import as much as 4 GW of low-carbon electricity by 2035, which would constitute 35 percent of its total supply. The nation’s Energy Market Authority issued a request for proposal (RFP) last October to appoint suppliers to import and sell around 1.2 GW of electricity into Singapore.
Jiang Hanbin, President and Chief Executive Officer of Tuas Power, said, “We are happy to be part of this consortium to bring renewable energy from Indonesia to Singapore. Tuas Power is one of Singapore’s leading energy solutions provider, and we believe in partnering like-minded companies like Masdar, Indonesia Power and EDF Renewables to advance into a new energy landscape. With Tuas Power’s ideal location for power imports and skilled workforce, and our parent company, Huaneng Power International’s expertise in large scale renewable projects, we are confident this will be a worthy investment for all.”
Ahsin Sidqi, President Director of PT Indonesia Power, said, “IP, which is a key subsidiary of PLN, the sovereign utility of Indonesia, is an essential partner for the power export in Indonesia and we look forward to developing the renewable energy sector even further thanks to this new strategic agreement. Our knowledge and expertise in the field will hopefully contribute in a fruitful way to global and regional sustainability and we are confident in the skills that all parties bring to the table.”
Yalim Ozilhan, Southeast Asia Director of EDF Renewables, said, “We are delighted to be a part of this landmark project together with such competent and reputable entities in the energy field including Masdar as our strategic partner. Our parent company, EDF, will be leading the development of the sub-sea cable project for power export purposes. This project will expand our presence in the region even further, following on from our current activities in Vietnam and Indonesia. Such efforts are crucial if we are to collectively increase renewable energy capacity around the world and we are committed to play our part.”
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said, “Masdar is honoured to join this consortium, and we will leverage the experience we have developed in some 40 countries across the globe to help this cross-border project come to fruition. We look forward to working with all parties involved and we are fully confident that this ambitious initiative will be a key step toward building a greener and more sustainable future for both Indonesia, Singapore and indeed the wider region.”
HE Abdulla Salem Al Dhaheri, Ambassador of the United Arab Emirates to the Republic of Indonesia and the ASEAN, said, “The United Arab Emirates is keen on collaborating with countries in Asia to help them on their energy transitions and to meet climate objectives. Indonesia holds tremendous potential for renewable energy and Masdar is already supporting the development of the nation’s renewable energy sector. We look forward to also being able to support Singapore on its clean energy objectives.”
HE Jamal Abdulla AlSuwaidi, Ambassador of the United Arab Emirates to the Republic of Singapore, said, “Singapore has recognized the need to diversify its energy mix, and is looking to other nations to help it on its clean energy journey. We welcome the opportunity to support Singapore’s energy objectives, and to strengthening the bonds between the UAE, Indonesia and Singapore, as our nations work together to tackle climate change.”
Masdar entered the Indonesian market in 2020, forming a joint venture with PT PJBI, a subsidiary of Indonesia’s state electricity company, to drive development of the Cirata Floating Photovoltaic Power Plant, the country’s first floating solar project, and one of the largest in the world. Masdar announced financial close on the project last August, and it is expected to begin commercial operation in the fourth quarter of this year.