Rosan: Danantara secures Rp23.66 trillion investment for 50 GW solar power capacity

Jakarta — Rosan Perkasa Roeslani, the CEO of Danantara’s Investment Management Agency, revealed that Danantara has secured an investment of USD1.4 billion, or around Rp23.66 trillion, for the construction of a factory that will support a solar photovoltaic (PV) plant with a capacity of 50 gigawatts (GW).

Rosan explained that once completed, the factory could back the government’s plan to accelerate the development of PV solar plants in several villages, particularly those that already have electricity distribution networks.

There has already been investment entering Indonesia; the project is expected to be completed this year, with a USD1.4 billion investment to build a factory with a 50 GW capacity. The investment has already been secured and will be completed by the end of the year. This will also help Indonesia to use domestically produced components for this solar expansion project.

In Istana, on Thursday afternoon, President Prabowo held a limited meeting with Danantara’s CEO—also the Minister of Investment and Head of BKPM—then Energy and Mineral Resources Minister Bahlil Lahadalia, PT Pindad President Director Sigit P. Santosa, and Higher Education, Research and Technology Minister Brian Yuliarto. In the meeting, the President established a task force to accelerate the transition to renewable energy (EBT). The task force is led by ESDM Minister Bahlil Lahadalia.

Regarding the acceleration of the transition, Rosan said that Danantara is currently building a 1 MW PV prototype in Sumenep, Madura, East Java. ‘The prototype will be reviewed and inspected by a team, including ESDM and Mendikbudristek (Ministry of Education, Culture, Research and Technology), for potential roll-out,’ Rosan said.

Rosan went on to say that President Prabowo, in the same meeting, instructed Danantara to study financing options for the construction of PV plants in several Indonesian villages. ‘The President gave directions that this development could proceed with several funding options; we have been asked to review and study the structure, working with domestic entities as well as private parties that possess technology and capability in solar energy and batteries. That was the focus of the discussion,’ the Danantara CEO stated.