JAKARTA (TheInsiderStories) - Uni Arab Emirates (UAE)’ renewable energy firm, Masdar, and PT Pembangkit Jawa Bali Investasi (PJBI) form a joint venture (JV) to develop Cirata Floating Photovoltaic Power Plant, the country’ first floating PV project, said the company yesterday. PJBI is the subsidiary of state-run power producer, PT Perusahaan Listrik Negara (PLN).
The new JV company, PT Pembangkitan Jawa Bali Masdar Solar Energi, will run the Cirata reservoir in West Java. Cirata is the largest of renewable in Southeast Asia and one of the largest in the world, and is scheduled to start construction in the first quarter of 2021.
Since Masdar announced the 145-megawatts (MW) plant it has been designated a National Strategic Project by the Indonesian government. Its estimating, Cirata will contribute 23 perccent of the country-mixed energy contribution from the new and renewable energy sector in 2025.
The CEO, Mohamed Jameel Al Ramahi, stated, “This project marks our entry into Southeast Asia. We look forward to extend the successful collaboration and strategic partnership with PJBI and PLN to expand our presence and investments in Indonesia.”
While, Gunawan Yudi, president director of PJBI, said the development of the floating PV is a big step for the company. Upon completion, Cirata, which will be located on a 250-hectare plot on the 6200-hectare reservoir, will power 50,000 homes and offset 214,000 tons of carbon dioxide emissions.
Based on Investment Coordinating Board data, the investment realization value made by Masdar is only 1.97 percent of the total investment plan of Rp1.8 trillion (US$127.66 million) until now. With the kick off Cirata project its expecting the investment realization could rises.
In 2017, the unit of PLN has inked the agreement with estimating costs $180 million. Following the agreement, the two parties will set up a JV firm, in which PJBI will hold 51 percent with the remaining 49 percent owned by Masdar.
In the first stage, the their unit will develop 50 MW of installed capacity and has been operated in 2019. The second, third and fourth phases will have an installed capacity of 150 MW, and will come on line in 2020.
The government is currently considering plans to develop an additional 60 floating PV plants, capitalizing on its more than 600 lakes and reservoirs, and helping to preserve precious land resources. Scaling up renewables could save Indonesia, the largest energy user in the Asian region, as much as $51.7 billion per year, when the impacts on air pollution and climate change are included, according to the International Renewable Energy Agency.
US$1: Rp14,100
Written by Editorial Staff, Email: theinsiderstories@gmail.com
