REPUBLIKA.CO.ID, LONDON -- Masdar, a renewable energy development company from the UAE, and Indonesian company PT Pembangkitan Jawa-Bali (PJB) engaged in energy have signed a memorandum of understanding to explore cooperation for developing renewable energy projects in Indonesia.

Experts from Masdar and PT PJB will work together to identify renewable energy development opportunities to meet renewable energy usage targets of up to 23 percent by 2025 and 31 percent by 2050, according to a statement by the Indonesian Embassy in Abu Dhabi received by Antara here on Monday.

The memorandum of understanding was signed by Executive Director of Masdar Bader Al Lamki and President Director of PT PJB Iwan Agung Firstantara and was witnessed by Indonesian Minister of State-owned Enterprises Rini Mariani Soemarno.

Masdar's CEO Mohamed Al Ramahi expressed hope that cooperation between the company and PT PJB to develop Indonesia's renewable energy potential would run smoothly.

"This is in line with our commitment to support the momentum of developing renewable energy globally," he noted.

Based on research conducted by the International Renewable Energy Agency, Indonesia has the potential to develop renewable energy power plants of more than 700 gigawatts (GW), of which 532.6 GW are from solar energy.

Meanwhile, Firstantara said the company has welcomed the cooperation with Masdar.

"We believe this cooperation will bring success in the development of renewable energy in Indonesia," he said.

Over the last decade, Masdar has invested US$8.5 billion in renewable energy projects, of which its contribution is $2.7 billion. The projects are spread across the Middle East and Africa, Britain, Spain, Seychelles, and the Pacific islands.

Masdar is a new renewable energy development company from Abu Dhabi that advances, develops, commercializes, and applies clean energy technologies around the world.

Masdar is a company harboring a long-term vision of energy and water development in the UAE.

PT PJB is a subsidiary of the Indonesian electricity company PT PLN, focusing on integrated power plants.

Currently, PJB manages coal-, gas-, and water-based power plants, with a total capacity of over 12 GW. PJB continues to diversify its business into clean energy to meet Indonesia's renewable energy mix target and to reduce global carbon emissions.

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