United Arab Emirates-based clean energy company Masdar has partnered Indonesia’s state-owned electricity company, PT PLN (Persero), to advance the development of floating solar power projects in Indonesia.
The companies signed a memorandum of understanding for the development of a floating solar power plant at the Jatigede Dam reservoir in West Java after the lowest tariff was secured by Masdar in the Hijaunesia 2023 bidding programme.
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The project’s development is set to commence in 2025, with completion in 2027.
Masdar and PLN have signed principles of agreement to explore the potential expansion of Masdar’s 145 megawatts alternating current (MWac) Cirata floating photovoltaic power plant.
The Cirata project generates enough renewable energy to power 50,000 homes and displaces 214,000 tonnes of carbon emissions annually. The first phase of the plant began operations in November 2023.
Following regulatory changes, Masdar and PLN agreed in 2023 to jointly assess the increase of Cirata’s capacity, leading to this latest agreement after successful feasibility studies.
Masdar CEO Mohamed Jameel Al Ramahi stated: “The Jatigede project will be a strong addition to our collaboration with PLN and its development, along with the expansion of our already record-breaking Cirata project, will enable us to build on our expertise in developing floating solar projects.
“These agreements also demonstrate our continuing commitment to supporting Indonesia’s ambitious renewable energy objectives. We look forward to building on the already powerful partnership we enjoy with PLN to further explore developing renewable energy projects that drive sustainable growth in Indonesia.”
The collaboration aims to support Indonesia’s goal of net-zero emissions by 2050.
In 2024, Indonesian President Prabowo Subianto outlined plans to add more than 75GW of renewable energy over 15 years to support a low-carbon economy transition.
In February 2025, Indonesia established Danantara Indonesia, a strategic investment management agency, to manage and enhance the competitiveness of state-owned enterprises, including PLN.
Persero president and director Darmawan Prasodjo stated: “PLN is fully committed to leading Indonesia’s energy transition. These collaborations are a testament to the shared global effort needed to address the climate crisis. By expanding our renewable energy capacity, we’re reducing fossil fuel dependence, enhancing energy sustainability and strengthening energy sovereignty while driving economic growth.”
Since 2022, Masdar has increased its global renewable energy portfolio from 20GW to 51GW by the end of 2024 – a 150% increase. The company operates in more than 40 countries and aims to reach a renewable energy portfolio capacity of 100GW by 2030, alongside becoming a producer of green hydrogen.
In April 2025, Masdar completed the 100% acquisition of TERNA ENERGY, a key player in the renewable energy sector in southeastern and central Europe.
