Saudi Arabian Company Will Work On Green Power Plants At IKN

OIKN is collaborating with ACWA Power for the construction of a green power plant. (Photo: Doc. OIKN)

The Capital Archipelago Authority (IKN) is collaborating with ACWA Power to develop green power plants in IKN.

This cooperation was agreed upon by the signing of a Memorandum of Understanding (MoU) by the President Director of PT Bina Karya (Persero) Boyke P Soebroto and Country Director ACWA Power for Indonesia Meftaur Rahman at the PT ACWA Power Indonesia office, South Jakarta, recently.

ACWA Power is a company from Saudi Arabia that has more than 55GW experience in the development, development and operation of clean power plants, water and green hydrogen worldwide.

PT Bina Karya itself needs to expand opportunities for cooperation with investors, both nationally and internationally.

Therefore, PT Bina Karya will cooperate with ACWA Power as a foreign investor to develop a green power plant at IKN.

"Next week, we will hold a meeting to ensure ACWA Power Indonesia's participation in the IKN development can be carried out immediately," said President Director of PT Bina Karya (Persero) Boyke P Soebroto in a written statement, quoted on Tuesday, April 30.

Meanwhile, ACWA Power Indonesia Country Director Meftaur Rahman hopes to participate in more fields and can immediately realize his participation.

"This is a strategic collaboration for PT ACWA Power Indonesia," he said.

This collaboration is a support in the development of a green power plant network, including transmission networks, distributions and other supporting facilities in the IKN area.

As for 2023, OIKN has reported ACWA Power's willingness to invest in IKN. The Letter of Interest Statement (LoI) of Investment was handed over directly by ACWA Power CEO Marco Arcelli, at the Saudi-Indonesian Roundtable Forum held in the capital Riyadh.

ACWA Power itself is the only company appointed directly by the Kingdom of Saudi Arabia to develop the energy sector in the NEOM megaproject. It plans to develop electricity infrastructure in IKN with a government and business entity cooperation scheme (KPBU).

Currently, ACWA Power has a capacity of 50 gigawatts (GW) of electricity worldwide. With the total investment value disbursed by ACWA in various countries reaching 75 billion US dollars. The estimated investment requirement for ACWA Power in IKN is estimated at 6 billion US dollars.