Masdar, Abu Dhabi’s renewable energy company, and the leading Indonesian power company PT Pembangkitan Jawa-Bali (PT PJB), today signed a memorandum of understanding (MoU) to explore areas of collaboration on renewable energy projects in Indonesia.
Experts from Masdar and PT PJB will work together to identify opportunities to meet Indonesia’s rapidly growing energy demand, together with its ambitious targets to achieve 23% renewable energy use by 2025 and 31% by 2050. Under the terms of the MoU, the partnership will focus on potential projects within the Java-Bali and Sumatra regions.
The MoU was signed by Bader Al Lamki, Executive Director, Clean Energy of Masdar, and Iwan Agung Firstantara, President Director of PT PJB, in the presence of Mohamed Jameel Al Ramahi, Chief Executive Officer (CEO) of Masdar and Her Excellency Rini Mariani Soemarno, Indonesia’s Minister of State Owned Enterprises.
“We look forward to further developing our excellent relationship with PT PJB to help unlock Indonesia’s vast potential for renewable energy,” said Al Lamki. “Masdar has been at the forefront of accelerating the adoption of solar and wind power for more than a decade. We have accumulated a wealth of expertise which will be invaluable as we work in partnership to identify the most commercially viable and impactful projects in support of Indonesia’s clean energy targets.”
“PJB is excited and looking forward to working together with Masdar,” said Iwan Agung Firstantara, President Director of PT PJB. “We believe this memorandum of understanding will bring success to renewable energy development and implementation in Indonesia”
With a population of over 250 million people, Indonesia is the largest country in the Association of Southeast Asian Nations (ASEAN). According to research by the International Renewable Energy Agency (IRENA), Indonesia has the potential for more than 700 gigawatts of renewable energy based power generation, including 532.6 gigawatts of solar power.
Over the last decade, Masdar has invested in renewable energy projects with a combined value of US$8.5 billion; Masdar’s share of this investment is US$2.7 billion. The company’s renewable energy portfolio extends across the Middle East and North Africa region, as well as the UK, Spain, Seychelles and the Pacific Islands.