Up to $10 billion deal in Indonesia: Saudi Arabia’s ACWA Power has signed a memorandum of understanding (MoU) with Badan Pengelola Investasi Daya Anagata Nusantara (Danantara Indonesia), Indonesia’s 2nd sovereign wealth fund, to explore the renewable energy market of the Southeast Asian nation. Under the MoU, both entities will invest in renewable energy generation, including solar, combined cycle gas turbines, green hydrogen, and water desalination projects. ACWA Power has also entered a separate agreement with Indonesia’s state-owned oil and gas corporation PT Pertamina. This agreement encompasses the joint development of a combined 500 MW of renewable energy and gas-to-power projects, new electricity tenders, green hydrogen, and operation and maintenance business lines.

“With a total project funding of up to USD 10 billion, this partnership will help Indonesia in achieving its target of a 34 per cent mix of renewables in its total energy mix by 2034 and 87 per cent by 2060, signalling a vast potential to become a clean energy leader in the coming years,” stated ACWA Power. In May this year, ACWA Power and PLN Indonesia Power’s jointly developed 92 MW Saguling Floating Solar PV Plant in Indonesia raised $60 million in financing (see Asia Pacific Solar PV News Snippets: 63 MW New Zealand Solar Project Online & More). 

Queensland solar & storage farm gets green light: The Hookey Creek Solar Farm with 100 MW PV and 200 MW battery energy storage system (BESS) with up to 8 hours of storage capacity in Queensland’s Gympie has secured the green signal from Australia’s federal government. It will be connected to the state’s SuperGrid via underground cables with energy traded on the National Electricity Market (NEM). It will be located on predominantly cleared land so that it can be used for agricultural activities on site, including sheep grazing. Proposed by ZEN Energy Future, the government cleared the project within 17 days.