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Indonesia, Saudi Arabia sign 10 billion USD deal on green projects

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 Danantara headquarters in Jakarta. (Photo: ANTARA)
The Danantara headquarters in Jakarta. (Photo: ANTARA)

Jakarta (VNA) - Indonesia’s sovereign wealth fund (SWF) Danantara has signed a memorandum of understanding (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 USD.

In a statement issued on July 3, 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 programmes 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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#Indonesia #renewable energy #global energy transition network #green projects #Indonesia’s sovereign wealth fund Indonesia
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