Saudi-listed ACWA Power announced on Wednesday that it has signed the Power Purchase Agreement (PPA) for a 60-megawatt (MW) floating solar photovoltaic (PV) project in Indonesia.

ACWA Power will hold a 49 percent equity stake in Saguling project with the rest being held by Indonesia Power, a  subsidiary of state-owned PLN (Perusahaan Listrik Negara) the project’s offtaker.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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