Indonesia Secures $10 Billion with ACWA Power for Renewables and Hydrogen Mega-Projects

Jakarta has announced a landmark move as Indonesia’s sovereign wealth fund, Danantara, and Saudi Arabia’s ACWA Power inked two MOUs totaling $10 billion. This partnership, formed during President Prabowo Subianto’s inaugural state visit to Saudi Arabia, marks Danantara’s first major international deal and signals Indonesia’s rapid ascent in global energy transition.

Under these agreements, ACWA Power and Danantara will jointly explore projects covering solar and wind power, combined cycle gas turbines, green hydrogen, and large-scale desalination. ACWA Power will also team up with Pertamina, Danantara’s state energy affiliate, to develop 500MW of renewable and gas-fired capacity, participate in power tenders, hydrogen ventures, and operational services.

Danantara CEO Rosan Perkasa Roeslani emphasized that this collaboration will bring foreign investment and advanced technology to accelerate high-impact projects in solar and hydrogen, solidifying Indonesia’s role as a global energy transformation leader. ACWA Power’s Vice Chairman Raad Al Saady highlighted the partnership’s support for Indonesia’s energy and water security goals and its drive for sustainable growth.

As the world’s largest private desalination company, ACWA Power now manages a $107.5 billion portfolio, with 78.9GW of power and 9.5 million cubic meters of daily desalination capacity. Its expansion into Indonesia follows similar $10 billion agreements in Malaysia and Vietnam this year, underlining a strategic push in Southeast Asia’s booming energy and water infrastructure sectors.