JAKARTA: Indonesia has secured a US$60mil investment from Standard Chartered, Germany’s DEG, and France’s Proparco to develop the 92 MW Saguling floating solar photovoltaic (PV) plant in West Java. The project, led by ACWA Power and PLN Indonesia Power, is expected to be operational by 2026 and offset over 63,000 tonnes of carbon emissions annually.
This marks the first project-level financing under Indonesia’s Just Energy Transition Partnership (JETP) since the US withdrew its support earlier this year. Despite the US pullout, France and Germany continue to support Indonesia’s clean energy transition, with France alone committing around US$513mil.
As Indonesia eyes a shift from coal to renewables, it relies on the backing of donor countries and private sector members of the Glasgow Financial Alliance for Net Zero (GFANZ) for financing. Germany and Japan, the new JETP coleaders, are expected to play key roles in reviving the initiative. — The Jakarta Post/ANN
