Indonesia, Saudi Arabia sign $10 bln deal on green projects
Indonesia’s sovereign wealth fund (SWF) Danantara has signed an MoU with ACWA Power, a Saudi Arabian leading green energy corporation, to explore investments in renewable energy projects with total funding estimated at up to $10 billion.
The Danantara headquarters in Jakarta. Photo courtesy of ANTARA.
In a statement issued on Thursday, Danantara CEO Rosan Roeslani said the collaboration could help Indonesia achieve its renewable energy targets, including a 34% renewable energy mix by 2034 and 87% by 2060.
The partnership with ACWA Power not only brings in capital but also positions Indonesia as a strategic partner in the global energy transition network, he underscored.
Roeslani said the deal reflects Danantara’s commitment to forming long-term, credible alliances that support national priority programs while also generating commercial returns.
In addition, ACWA Power has signed a strategic partnership with Pertamina, Indonesia’s state-owned oil and gas company, to develop multi-billion-dollar power generation and desalination projects.
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