Masdar will be joining a consortium that will develop solar photovoltaic facilities with a capacity of about 1.2 gigawatts and associated storage in Indonesia for the export of solar power to Singapore.
In this connection, Masdar said, it has signed a Memorandum of Understanding with Singapore’s Tuas Power, France’s EDF Renewables, and PT Indonesia Power.
Singapore is looking to import as much as 4 gigawatts 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.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said, “Masdar is honored to join this consortium, and we will leverage the experience we have developed in some 40 countries across the globe to help this cross-border project come to fruition. We look forward to working with all parties involved and we are fully confident that this ambitious initiative will be a key step toward building a greener and more sustainable future for both Indonesia, Singapore and indeed the wider region.”
Jiang Hanbin, President and Chief Executive Officer of Tuas Power, said, “With Tuas Power’s ideal location for power imports and skilled workforce, and our parent company, Huaneng Power International’s expertise in large scale renewable projects, we are confident this will be a worthy investment for all.”
Ahsin Sidqi, President Director of PT Indonesia Power, said, “IP, which is a key subsidiary of PLN, the sovereign utility of Indonesia, is an essential partner for the power export in Indonesia and we look forward to developing the renewable energy sector even further thanks to this new strategic agreement. Our knowledge and expertise in the field will hopefully contribute in a fruitful way to global and regional sustainability and we are confident in the skills that all parties bring to the table.”
Yalim Ozilhan, Southeast Asia Director of EDF Renewables, said the EDF will be leading the development of the subsea cable project for power export purposes.
Masdar entered the Indonesian market in 2020, forming a joint venture with PT PJBI, a subsidiary of Indonesia’s state electricity company, for the 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 a financial close on the project last August, and it is expected to begin commercial operation in the fourth quarter of this year.