Badan Pengelola Investasi Daya Anagata Nusantara (Danantara Indonesia) has announced the signing of a Memorandum of Understanding (MoU) with ACWA Power, the world’s largest private water desalination company, a leader in energy transition and a first mover into green hydrogen. ACWA Power has also entered a strategic partnership with PT Pertamina, an Indonesian state- owned oil and gas corporation, to collaborate on the development of multi-billion-dollar power generation and water desalination projects within Indonesia.

The first MoU, signed between Danantara Indonesia and ACWA Power, formalises the exploration of investments by ACWA Power in Indonesia. The investments will center on projects in renewable energy generation, combined cycle gas turbines, green hydrogen and water desalination.

The second agreement, signed between PT Pertamina and ACWA Power, focuses on the joint development of clean energy projects in Indonesia. This includes the technology development of cumulative 500MW of renewable energy and gas-to-power projects, new electricity tender, green hydrogen projects, and operation and maintenance (O&M) business lines.

With a total project funding of up to USD 10 billion, this partnership will help Indonesia in achieving its target of a 34 per cent mix of renewables in its total energy mix by 2034 and 87 per cent by 2060, signalling a vast potential to become a clean energy leader in the coming years.