Masdar’s joint venture with Mitrabara will accelerate the implementation of solar energy solutions in Indonesia and target its fast-growing commercial and industrial (C&I) segment.

The JV, PT Masdar Mitra Solar Radiance, which will operate under the Solar Radiance brand, was formally launched at a ceremony on the sidelines of Abu Dhabi Sustainability Week (ADSW) 2022, held last month in the UAE capital.

The Solar Radiance venture will help Masdar further expand its presence in Indonesia, and support the nation’s clean energy and climate objectives.

With Indonesia targeting at least 51 per cent of added power capacity coming from renewable sources by 2030, the C&I segment is expected to enjoy very rapid growth. The new venture will also boost Masdar’s knowledge of the local market, and deepen its penetration in the renewables sector.

On the other side, the move supports Indonesia’s plans towards achieving net zero emissions by 2060 or sooner, with renewable energy providing up to 85 per cent of the energy mix by that date. The nation, the largest energy consumer in the Association of Southeast Asian Nations (Asean), is targeting reducing greenhouse gas emissions 41 per cent by 2030 with international assistance.

Masdar, one of the world’s leading renewable energy companies, formed the JV with PT Mitrabara Adiperdana Tbk (Mitrabara), a conglomerate focused on the energy sector in Indonesia.

Angela Soedjana, Director of Baramulti Group, shareholder of Mitrabara, attended the event, along with Hidefumi Kodama, General Manager, Coal and Energy Solution Department, Idemitsu, also shareholder of Mitrabara, and Khoirudin, Chief Executive Officer of Mitrabara. Masdar was represented by Fawaz Al Muharrami, Acting Executive Director, Clean Energy.

Khoirudin, Chief Executive Officer of Mitrabara, said: “With the growing need for companies to reduce their carbon footprint, availability of renewable energy has become one of the key drivers for investment decisions. Indonesia unfortunately is lagging behind our peers in the region for this issue. We believe that Solar Radiance will be able to accelerate the implementation of Solar Energy solutions in Indonesia, especially since Solar Energy is an abundant resource that is still underutilised. The knowledge, experience, and expertise that Masdar and Mitrabara brings to the joint venture is unique in the market and will ensure the best solution for our customers.”