Financial Closure For 145 MW AC Floating PV Project

1st Indonesian Floating Solar Power Plant Achieves Financial Closure; Masdar & PT PJBI Start Construction For 145 MW AC Cirata Facility

Financial Closure For 145 MW AC Floating PV Project

Masdar calls the 145 MW AC floating solar PV facility in Indonesia for which it has achieved financial closure as one of the largest of its kind in Southeast Asia. Once the 2.2 GW Sunseap/BT Batam floating PV facility comes online, it will dwarf the 145 MW AC project and become the world's largest PV system of its kind. (Photo Credit: Masdar)

  • Masdar and PT PJBI joint venture has secured financial closure for 145 MW floating solar power project in Indonesia
  • Project is now under construction on Cirata Reservoir in West Java with commercial operations due to begin in Q4/2022
  • Financing has been raised from Sumitomo Mitsui Banking Corporation, Societe Generale and Standard Chartered Bank

The maiden floating solar power plant planned to come up in Indonesia with 145 MW AC capacity has achieved financial closure of undisclosed amount, with financing arranged through Sumitomo Mitsui Banking Corporation, Societe Generale and Standard Chartered Bank.

Cirata Floating PV Power Plant is to be set up by PT. Pembangkitan Jawa Bali Masdar Solar Energi (PMSE), a joint venture between PT PJBI, a subsidiary of Indonesian state-owned electricity company PT PLN, and Abu Dhabi based renewable energy company Masdar (see Joint Venture For Indonesian Floating PV Plant).

With financial closure achieved, the project is now officially under construction. The facility, which Masdar calls a flagship project of the UAE’s investment in Indonesia, is expected to start commercial operations in Q4/2022 on the Cirata Reservoir in West Java Province.

On completion, it is expected to generate enough electricity to power 50,000 homes and offset 214,000 tons of CO2 emissions, said Masdar that terms the project to be one of the largest of its kind in Southeast Asia and one of the largest in the world.

However, there is another much bigger floating solar PV project announced for the country recently with 2.2 GW, to be developed by Sunseap with BP Batam (see World’s ‘Largest’ Floating PV Project Planned In Indonesia).

About The Author

Anu Bhambhani

Senior News Editor: Anu Bhambhani is the Senior News Editor of TaiyangNews. Anu is our solar news whirlwind. At TaiyangNews she covers everything that is of importance in the world of solar power.Before joining our team, Anu worked in various positions at publications of the Times Group in New Delhi. As a Principal Correspondent, she conceptualized special features and supplements for both The Times of India and The Economic Times. While Anu delved deep into solar at TaiyangNews, environment topics have been close to her heart before. As Assistant Editor, she was responsible for launching Planet Earth for The Economic Times, a special series on environment. Before joining the Times Group, Anu was a Copy Editor at the Hindustan Times.Anu holds a Masters degree in Journalism and Mass Communications from the University of Rajasthan. She also studied at the Centre for Science and Environment in New Delhi on E-Outreach: New Media Technologies for Advocacy and Strategic Communication, Social Media

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