Abu Dhabi energy company Masdar is digging deeper into the Indonesian renewables market and has announced a joint venture (JV) called PT Masdar Mitra Solar Radiance with Indonesian business group PT Mitrabara Adiperdana Tbk, primarily known as a coal miner.
The JV will focus on capturing opportunities in the growing commercial and industrial (C&I) segment of Indonesia (see Chinese Steel Producer Wants Solar & Wind In Indonesia).
"With the growing need for companies to reduce their carbon footprint, availability of renewable energy has become one of the key drivers for investment decisions. Indonesia unfortunately is lagging behind our peers in the region for this issue," said Mitrabara's CEO Khoirudin who sees potential to build a customer base through solar energy.
Masdar already is in a JV with state owned electricity utility PT PJBI to build 145 MW Cirata Floating Solar Power Project that's currently under construction (see Financial Closure For 145 MW AC Floating PV Project).
The JV with Mitrabara, explained Masdar, will help it expand its presence further in the Indonesia market, boost its knowledge of the local market and deepen its penetration in the renewables sector.
Indonesia aims to have renewables accounting for a minimum of 51% of its power mix by 2030, increasing dramatically from 14% at the end of 2020. Under its new and renewable energy development roadmap, Indonesia targets to add only 4.68 GW new solar capacity by 2030 (see Indonesia: Unambitious Solar Plans).
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