UAE Renewable Energy Company Masdar Receives Letter to Proceed for Renewable Energy Investment in Nusantara

BALI – One of the world's largest clean energy companies, Abu Dhabi Future Energy Company PJSC - Masdar, plans to conduct a feasibility study to develop a 200 MW renewable energy project in Indonesia's new capital, Nusantara. This is part of the company's commitment to build 2 GW of renewable energy in Nusantara on Tuesday, (21/05/2024).


The announcement was marked by the awarding of the Letter to Proceed (LtP) for the feasibility study in Nusantara by the Deputy for Funding and Investment of the Nusantara Capital Authority (NCA), Agung Wicaksono, to Masdar's Director of Development & Investment, Abdulla Zayed. The LtP handover ceremony was witnessed by the UAE Minister of Energy, HE Suhail Mohamed Al Mazrouei, Indonesia's Coordinating Minister for Maritime and Investment Affairs, HE Luhut Pandjaitan, and UAE Ambassador H.E. Abdulla Salem AlDhaheri.


Bambang Susantono, Chairman of the NCA, said, "Indonesia is committed to making the new capital Nusantara a city that prioritizes sustainability. We welcome Masdar's plan to conduct an investment study for a 200 MW renewable energy plant in the capital. We also appreciate Masdar's further commitment of 2 GW to support the renewable energy plans in Nusantara. By prioritizing renewable energy such as solar and wind power, this will position Nusantara as a model eco-friendly city that utilizes clean energy. This can demonstrate that urban areas can grow in harmony with nature."


Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, commented, "The UAE remains strongly committed to advancing Indonesia's energy sector, focusing on renewable energy. In line with the UAE Consensus reached at COP28, Masdar is dedicated to forming partnerships that provide transformative solutions for access to clean energy. Our collective efforts will drive investments in green hydrogen, solar, and wind power to position Indonesia as a regional leader in the global energy transition."


Agung Wicaksono stated, "This is a tangible example of the significant interest in foreign investment in the new capital Nusantara, which has now entered the project development phase. The Letter to Proceed is progress in one of the investment stages, followed by the feasibility study to be conducted by Masdar. The development is supported by the strategic partnership between the Nusantara Capital Authority and the Indonesia Investment Authority (INA), with advisory from the Tony Blair Institute for Global Change."


Shuhaela Haqim, Country Director of the Tony Blair Institute, an investment advisor to the Nusantara Capital Authority, welcomed Masdar's investment interest and said that today's momentum marks a significant step forward for the new capital in making a sustainable impact on the nation.


"Decarbonization is at the core of Indonesia's green economic journey. With this development, Nusantara has shown its tangible commitment to becoming a pioneer in Indonesia's decarbonization efforts, which will strengthen the country's renewable energy ecosystem. TBI is proud to be part of this momentum," said Haqim.


Nusantara is committed to becoming a zero-emission city by 2045, with all its electricity coming from renewable sources such as solar, hydro, and wind power.

(Tuesday,May 21st 2024)


Photo Documentation

Source:Nusantara Capital Authority Public Relations

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