Masdar has inked two agreements with PT PLN, Indonesia’s state-owned electricity company for the development of floating solar power projects in Indonesia. The two companies have inked a MoU to develop a floating solar power plant at the Jatigede Dam reservoir in West Java.
Furthermore, the project is being developed after Masdar secured the lowest tariff in the Hijaunesia 2023 bidding program. Development of the solar plant is scheduled to begin in 2025, and completion is scheduled for 2027. The two companies also inked a ‘Principles of Agreement’ to explore the expansion of Masdar’s 145 MWac Cirata floating photovoltaic power plant. The first phase of this project began operations in November 2023.
Earlier in March 2025, Masdar, through its subsidiary Saeta, concluded an investment agreement for the Valle Solar project, which is situated in Spain’s Valencia region. The agreement is a further step in securing the construction of the plant, which is located in the municipalities of Ayora, Jarafuel, and Zarra. This is 234 MW solar project, and has the potential to add hybridisation of battery energy storage systems of 259 MW.
