French renewable energy company Akuo has partnered with Copenhagen Infrastructure Partners (CIP) to develop more than 400 megawatts of renewable energy projects in Indonesia.

CIP's Copenhagen Infrastructure New Market Fund (CI NMF) and Akuo's subsidiary PT Akuo Energy Indonesia jointly developed the project. The two companies will initially jointly develop a portfolio of more than 400 megawatts of onshore wind, solar and river hydropower projects in Indonesia and plan to expand.

The 400 MW renewable energy project accounts for approximately 4.5% of the additional capacity Indonesia needs to achieve its 23% renewable energy target by 2025. Eric Scotto, co-founder and chairman of Akuo, said: “Akuo has invested heavily in the Indonesian market in recent years and has built a very capable local team with a deep understanding of the Indonesian market.” “This is the case with CIP. The agreement reached by a solid and loyal partner is a milestone in developing a powerful multi-technology portfolio to serve Indonesian citizens."

Akuo is an independent renewable energy producer and developer engaged in project development, financing, construction and operation. As of the end of 2020, the company has invested more than 2.6 billion euros, and currently has a total capacity of 1.2GW in operation or under construction, and more than 5GW of projects under development.

CIP is a fund management company that invests in energy infrastructure, with 200 employees and offices in Copenhagen, Hamburg, New York, Tokyo, Utrecht and London. The company focuses on offshore wind energy, onshore wind energy, solar photovoltaic, biomass and waste energy, power transmission and distribution, reserve capacity and storage, and other energy assets.

Niels Holst, partner and principal of CINMF, said: "We are very pleased to take an important first step with Akuo. We consider him a great partner. Indonesia is a market with relatively limited penetration of renewable energy, but The potential is very large, so it is CI NMF's focus on the market." "We look forward to providing Indonesia with first-class, large-scale and cost-competitive renewable energy. Together with our recently announced investment in India, this transaction demonstrates CI NMF Significant progress has been made in the investment plan and emphasizes our ability to complete the investment under conditions of Covid-19 continuing to drive uncertainty."

Keywords: new energy, international engineering news

In August 2021, CIP, through its CI NMF, signed an agreement with Amp India to jointly invest more than US$200 million in renewable energy projects in India.Editor/Baohongying