ACWA Power Signs Power Purchase Agreement for 60 MW Floating Solar Project in Indonesia 

Saudi Arabia’s ACWA Power, has announced the signing of a Power Purchase Agreement (PPA) for a 60-megawatt (MW) floating solar photovoltaic (PV) project in Indonesia. This initiative represents ACWA Power’s inaugural entry into floating solar technology.

For the Saguling project, ACWA Power will own a 49 percent equity stake, while Indonesia Power, a subsidiary of the state-owned utility PLN, will retain the remaining 51 percent. Indonesia Power will also serve as the offtaker for the project, according to reports.