ACWA Power wins preferred bidder status for 110 MW of Indonesian PV schemes

Saudi Arabia’s International Company for Water and Power Projects (TADAWUL:2082), or ACWA Power, has been chosen as the preferred bidder to develop 110 MW of floating solar projects on water reservoirs in Indonesia.

The preferred bidder status concerns the 50-MW Singkarak project on the island of Sumatra and a 60-MW scheme in Java, called Saguling, ACWA Power said in a bourse filing on Sunday. The company will now work with relevant project stakeholders to move to the final award stage.

Financial details about the schemes and the potential award were not available, with further information about the developments to be announced in due course.

Both projects will be run under power purchase agreements (PPAs) with Indonesia’s state-owned utility PLN.

Indonesia is aiming to add 4.7 GW of solar capacity by 2030 so as to produce at least 51% of its total power from renewable energy sources under a master plan adopted in 2021. The country will also pursue a goal to become carbon neutral by 2060 or sooner.

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