News Article

DNV Providing Technical Expertise For Indonesia's First-Ever Floating PV Project


DNV, the independent energy
expert and assurance provider, acted
as the Lender's Technical Advisor, during
the development phase, for Indonesia's first-ever floating solar
photovoltaic (PV) project at Cirata Reservoir in West Java.
The project owner, PT. Pembangkitan Jawa Bali Masdar
Solar Energi (PMSE), is a joint venture between the Abu
Dhabi Future Energy Company PJSC -
Masdar (MASDAR) and Indonesian state-owned electricity
company Perusahaan Listrik Negara (PLN) subsidiary PJBI.

PMSE achieved financial
close for the project on the 3
rd of
August after the satisfactory completion of the lender's due diligence
review. The senior debt of the floating solar project is
being provided by Sumitomo Mitsui Banking
Corporation, Societe Generale, and Standard Chartered Bank.

Once operational, the
145 MWac Cirata floating PV plant will be one
of the largest of its kind in South East Asia. The region is already home
to a number of large-scale floating PV systems including Vietnam's 70
MW FPV system in Quang Thanh and Singapore's 60 MW facility
at Tengeh reservoir.

The Cirata floating
PV project will have a plant capacity of 145 MWac. All
power generated by the plant will be supplied and sold to PLN under
a power purchase agreement (PPA).

DNV supported the first
phase of the Cirata floating PV project, which began
in April 2020 and involved pre-construction due diligence. DNV's
role included undertaking site studies, estimating solar resource data and
energy yield and reviewing the financial model's
technical assumptions.

DNV also reviewed the
project design, technology, PPA, Engineering, Procurement and Construction
(EPC) contract and contractor, the Operation and Maintenance (O&M)
contract, plan and operator. In addition to conducting
a technical due diligence, DNV also evaluated
the environmental and social impact assessments to ensure
compliance with internal best practices and International Finance Corporation
(IFC) standards.

“DNV is delighted to be
supporting PMSE in developing Indonesia's first floating solar PV project which
is expected to pioneer significant uptake in the technology as the country
shifts to low-carbon power generation solutions,” said Brice Le Gallo, Regional
Director for Energy Systems Asia Pacific at DNV.

“Executing this complex
project required a seamless collaboration across DNV's resource pool of
experts, from solar and power grids advisory to marine engineering,” Brice Le
Gallo added.

”DNV's experience in
advising sponsors and lenders on floating PV, which is a relatively new
technology, was a key differentiator and was instrumental in its selection as
the lender's technical advisor for the Cirata floating PV
project,” said Przemek Lupa, President Director of PMSE.

In addition to advising on
800 MW of installed floating PV capacity in Asia Pacific, including
Singapore's Tengeh reservoir project, DNV has been involved in a
combined 2 GW of floating PV projects worldwide.

In terms of industry-shaping
technical expertise, DNV led the collaborative joint industry project (JIP)
involving 24 industry participants which produced a set of recommended
practices for accelerating safe, sustainable and sound design,
development and operations of floating solar PV projects in March 2021.

Sonnedix Acquires From RIC Energy A 300 MW Development Portfolio In Spain
Pinergy Acquires Solar Electric
Mathias Muther Hands Over Management In Europe And USA
Q CELLS Donates Modules To Hurricane-hit Region In Colombia
Untapped Potential In Germany For Renewable Energies In Trade And Industry
Octopus Renewables Acquires Irish Solar PV Sites
Conexio-PSE Conference Organizer Merger Complete
Meyer Burger Considers Legal Options After Termination Of Collaboration
Toshiba Announces New Photovoltaic-output Photocoupler
ONYX Solar Will Acommplis The Largest Photovoltaic Integration In Africa
DNV’s GreenPowerMonitor Launches World’s Most Innovative Solution For Stabilizing Power Networks
Commitment Of US$50m In NextPower III LP And New Revolving Credit Facility
Solar Farm Boom In East Of England
Hitachi ABB Power Grids Is Evolving To Become Hitachi Energy And Broadens Commitment To A Sustainable Energy Future
Pfeiffer Vacuum Is A Partner Of The Kems4Bats Junior Research Group Of The German Federal Ministry Of Education And Research
Verkor Partners With Renault Group To Gear Up Its Battery Manufacturing In France
ARMOR ASCA's Organic Solar Cells Can Even Be Integrated Into Safety Glass
Etrion Completes Sale Of The 9.5 MW Project To Japanese Consortium
DNV Providing Technical Expertise For Indonesia's First-Ever Floating PV Project
Taoiseach Opens Ireland’s Largest Solar Farm
GoParity Uses Crowdlending For Solar Power In Uganda
Highfield Solar Secure €160m Financing For Irish Solar PV Duo
Mitsubishi Electric To Acquire Smarter Grid Solutions
Fronius Comes Out On Top Once Again In Energy Storage Inspection

Search the news archive

To close this popup you can press escape or click the close icon.
Register - Step 1

You may choose to subscribe to the Solar + Power Magazine, the Solar + Power Newsletter, or both. You may also request additional information if required, before submitting your application.

Please subscribe me to:


You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in:
Live Event