ACWA Power grows Indonesian portfolio due to cooperation wit...| MENAFN.COM

Monday, 06 February 2023 08:06 GMT

ACWA Power grows Indonesian portfolio due to cooperation with state electricity company


(MENAFN) Saudi energy company ACWA Power is going to operate with Indonesia’s state-owned electricity supplier to improve battery storage for renewable energy services as well as green hydrogen development in the Asian nation.

The company has declared that it inked a Memorandum of Understanding with PT Perusahaan Listrik Negara — recognized as PLN — at the B20/G20 Summit in Bali and coincided with the state trip of the Nation’s Crown Prince Mohammed Bin Salman to Indonesia.

Below the conditions of the MoU, ACWA Power and PLN are going to mutually study many avenues of cooperation, such as a venture study for pump storage for a 600-800MW hydroelectricity service; studying the opportunity of a 4GW battery energy storage system as well as the improvement of a green hydrogen/ammonia service that is powered by hydroelectricity.

Paddy Padmanathan, chief executive and vice chairman of ACWA Power, stated that “As a nation that is fast tracking economic growth, Indonesia is focussed on advancing sustainable development through strategic partnerships.”

The CEO continued: “With the signing of this extensive renewable energy and green hydrogen MoU with PT Perusahaan Listrik Negara, we are delighted to extend our collaboration and strengthen our presence in the country. We look forward to partnering with the government in ensuring that its renewable energy goals are realized.”

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