- PLN IP is seeking interested companies to act as its equity partners for solar and wind energy projects
- The projects, including floating as well as land based facilities, will be located in Java-Bali and Aceh regions
- It also extended an invitation to tier-I companies interested in setting up solar manufacturing fabs in the country
Indonesian electricity utility PLN Indonesia Power (PLN IP) has opened an expression of interest (EOI) round, seeking equity partners for the development of solar PV power plants and wind energy projects in Java-Bali and Aceh under its Proyek Hijaunesia 2023 program.
A subsidiary of PT PLN, PLN IP says the solar PV projects will comprise both floating as well as land-based facilities. The call is in line with the Indonesian government’s targets to accelerate energy transition to renewables.
Potential equity partners will be expected to develop, finance, build and operate 1 or more projects under the program. These are to be selected from companies enlisted in PLN’s list of selected companies or Daftar Perusahaan Terseleksi (DPT). PLN IP will hold majority stake in all projects under the partnership.
The EOI also states, “Furthermore, in line with the direction of Ministry of Industry to support the development of the national solar PV industry, PLN IP would also support the invitation for tier-I solar PV manufacturers who intend to set up factories in Indonesia to contribute towards meeting the local content requirements.”
KPMG Siddharta Advisory has come on board as the financial and commercial advisor for PLN IP to carry out the process.
Last date to submit EOI is March 16, 2023. Details are available here.
According to a September 2022 report by Ember, Indonesia along with China, Japan, India and the Philippines are expected to experience exponential solar power growth by 2030, but Indonesia needs to exploit its potential further (see Expect ‘Exponential’ Solar Growth Across 5 Asian Nations).