November 24 (Renewables Now) – Saudi Arabia’s ACWA Energy (TADAWUL:2082) mentioned on Thursday that it has signed a memorandum of understanding (MoU) with Indonesian state-owned energy firm PT Perusahaan Listrik Negara (PLN) to pursue the event of power storage and inexperienced hydrogen initiatives in Indonesia.
Underneath the brand new partnership, the businesses will work to ship a undertaking research for pumped-storage hydroelectric plant of 600 to 800 MW of capability, examine the chance for a 4,000-MW battery power storage system and the event of a hydropowered inexperienced hydrogen/ammonia facility, ACWA Energy mentioned.
By way of the most recent settlement, the Saudi investor in water and energy crops continues its relationship with PLN, which began lower than a month in the past when the 2 struck a development deal for 110 MW of floating photo voltaic initiatives in Indonesia. The floating photo voltaic contract paved the best way for ACWA Energy’s entry into the Indonesian market.
“As a nation that’s quick monitoring financial development, Indonesia is focussed on advancing sustainable growth by strategic partnerships. With the signing of this in depth renewable power and inexperienced hydrogen MoU with PT Perusahaan Listrik Negara (PLN), we’re delighted to increase our collaboration and strengthen our presence within the nation,” mentioned Paddy Padmanathan, Chief Government Officer and Vice Chairman of ACWA Energy.