Jakarta: Indonesian state energy firm Pertamina has signed an agreement with Saudi power giant ACWA Power to develop clean energy projects, as the Southeast Asian country seeks to make renewables a third of its total energy mix.
Indonesia, one of the world鈥檚 biggest greenhouse gas emitters, has been working to reduce its reliance on fossil fuels, and aims to increase the share of renewable sources in its energy mix from around 14 percent currently to 34 percent by 2034.聽
A memorandum of understanding between Pertamina and ACWA Power was signed on Wednesday on the sidelines of President Prabowo Subianto鈥檚 visit to the Kingdom. The agreement covers technology development of up to 500 MW renewable energy and green hydrogen projects.聽
鈥淧ertamina is fully committed to its dual growth strategy, which is to ensure energy security while also accelerating energy transition. Our collaboration with ACWA Power is a strategic step to realize this vision,鈥 Pertamina CEO Simon Aloysius Mantiri said in a statement.聽
鈥淏y joining forces on renewable energy, green hydrogen, and sustainable infrastructure, we aim to create tangible value for both nations and lead the region鈥檚 transformation toward a low-carbon economy.鈥
ACWA Power has also signed an agreement with new sovereign wealth fund Danantara Indonesia to explore investment opportunities that will center on renewable energy generation, combined cycle gas turbines, green hydrogen, and water desalination.聽
The total project funding is up to $10 billion, ACWA Power said in a statement.聽
鈥淭hese partnerships represent our commitment to support Indonesia in achieving its long-term energy and water security goals, contributing to the development of a sustainable and greener future,鈥 said Raad Al-Saady, vice chairman and managing director of ACWA Power.聽
The Saudi company already has several projects in Indonesia, including development of the Saguling Floating Solar Photovoltaic Project in West Java province, which will have a 92 MW peak capacity.
Last year, ACWA Power announced it was collaborating with PLN and Indonesian chemicals company Pupuk Indonesia to develop a green hydrogen project that will produce 150,000 tons of green ammonia annually, with plans for commercial operations to begin in 2026.
The latest collaboration came as Prabowo made his first visit to the Kingdom since taking office. The Indonesian president met Saudi Crown Prince Mohammed bin Salman in Jeddah on Wednesday, where the two leaders agreed to strengthen their strategic cooperation.聽
During the visit 黑料社区 and Indonesia also signed deals worth a total of $27 billion between private sector institutions in fields that include clean energy and petrochemicals.聽
Indonesia joins hands with 黑料社区 to achieve energy transition goals
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Indonesia joins hands with 黑料社区 to achieve energy transition goals

- Initial energy agreements signed on sidelines of President Prabowo Subianto鈥檚 visit to Jeddah
- Indonesia aims to achieve 34 percent share of renewable power in its energy mix by 2034