• Ambition to add up to 500 megawatts (MW) to existing 145MW (192MWp) Cirata floating solar PV plant
• Masdar, the UAE's flagship renewable energy company, also signs green hydrogen agreements with Indonesia's PLN Nusantara Power (PLN NP) at COP28 

DUBAI, United Arab Emirates, Dec. 3, 2023 -- Abu Dhabi Future Energy Company PJSC – Masdar, one of the world's leading renewable energy companies, has signed agreements to collaborate with Indonesia's state-owned utility company, PLN, to move ahead with major development plans for Southeast Asia's largest floating solar power plant and explore green hydrogen opportunities. 

The development at the UN's Climate Change Conference COP28 in the UAE builds on years of successful collaboration between Masdar and PLN. The partnership has already resulted in the launch of Southeast Asia's largest floating solar power plant, the innovative 145 megawatt (MWac) (192MW peak) Cirata project. Located on the Cirata reservoir in West Java, Indonesia, the plant was inaugurated earlier this month and generates enough renewable energy to power 50,000 homes, while displacing 214,000 tonnes of carbon emissions per year.  

The latest agreements were exchanged at COP28 and witnessed by HE Suhail Al Mazrouei, UAE Minister of Energy and Infrastructure, and the UAE Ambassador to Indonesia, ASEAN and Timor Leste, HE Abdulla Al Dhaheri. The agreements were signed by Masdar's Chief Executive Officer, Mohamed Jameel Al Ramahi, Chief Executive Officer of PLN Group, Darmawan Prasodjo, and President Director of PLN NP, Ruly Firmansyah. 

They included a framework agreement for a joint study into the tripling of Cirata's capacity to up to 500MW. The companies also agreed to explore renewable energy options around the world and the prospect of developing green hydrogen, which has huge potential for decarbonizing hard-to-abate industries, including steelmaking, construction, transportation, and aviation. With abundant solar resources, the UAE and Indonesia are in prime position to become green hydrogen production hubs. Both countries have bold net-zero targets which the deepening cooperation between Masdar and PLN will help to support.  

Masdar's Chief Executive Officer, Mohamed Jameel Al Ramahi, said: "Masdar looks forward to expanding its pioneering clean energy work with PLN. We were extremely proud to inaugurate the 145MW (192MWp) floating solar power plant with our valued partners earlier this month. The Cirata project shows how innovation can be used to meet multiple needs at once. The plant powers homes, cuts emissions, has created jobs and reduced land use because it is built on water. As the world looks for urgent solutions to the climate crisis at COP28, we need more smart projects like Cirata. With its robust economy and abundant renewable resources, Southeast Asia is a key investment destination for Masdar. Through our deepening cooperation with PLN, we will continue pioneering innovation in solar, green hydrogen and other key areas in support of the region's energy transition." 

In September, Masdar and PLN signed an agreement to develop Phase II of the Cirata plant to triple capacity by up to 500MW. This came after a recent regulatory change from the Ministry of Public Works and Housing in Indonesia, which now allows up to 20% of water coverage for renewable energy uses. Built on water, the Cirata plant reduces land use, a key consideration for countries such as Indonesia where land is limited but water abundant. The water's cooling effect can also improve efficiency and the panels reduce evaporation, saving water for drinking and irrigation.  

In February, Masdar also entered the geothermal market after making a strategic investment in Indonesia's Pertamina Geothermal Energy. Indonesia is the world's second-largest geothermal market.  

About Masdar

Abu Dhabi Future Energy Company (Masdar) is the UAE's clean energy champion and one of the fastest growing companies in the world, advancing the development and deployment of renewable energy and green hydrogen technologies to address global sustainability challenges. Established in 2006, Masdar has developed projects in over 40 countries, helping them to achieve their clean energy objectives and advance sustainable development. Masdar is jointly owned by Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company (Mubadala), and Abu Dhabi National Energy Company (TAQA), and under this ownership the company is targeting a renewable energy portfolio capacity of at least 100 gigawatts (GW) by 2030 and an annual green hydrogen production capacity of up to 1 million tonnes by the same year.

For more information please visit: http://www.masdar.ae and connect: facebook.com/masdar.ae and twitter.com/masdar

This material is distributed by Daniel J. Edelman, Inc. on behalf of Masdar. Additional information is available at the Department of Justice, Washington, DC.

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