Masdar announced today that it has signed a Memorandum of Understanding (MoU) with Singapore’s Tuas Power, France’s EDF Renewables, and PT Indonesia Power to explore the development of renewable energy within Indonesia for export to Singapore.

The agreement envisages the development of solar photovoltaic (PV) facilities with a capacity of as much as 1.2 gigawatts (GW), and potential associated storage. Singapore is looking to import as much as 4 GW of low-carbon electricity by 2035, which would constitute 35 percent of its total supply. The nation’s Energy Market Authority issued a request for proposal (RFP) last October to appoint suppliers to import and sell around 1.2 GW of electricity into Singapore.

Masdar entered the Indonesian market in 2020, forming a joint venture with PT PJBI, a subsidiary of Indonesia’s state electricity company, to drive development of the Cirata Floating Photovoltaic Power Plant, the country’s first floating solar project, and one of the largest in the world. Masdar announced financial close on the project last August, and it is expected to begin commercial operation in the fourth quarter of this year.