PT Krakatau Steel (Persero) Tbk, through its subsidiary, PT Krakatau Tirta Industri (PT KTI), will build a Floating Solar PV Project facility that utilizes a water reservoir area.

To realize the construction of a floating solar power plant or Floating Solar PV Project, PT Krakatau Tirta Industri (PT KTI) signed a collaboration with PT Akuo Energy Indonesia representatives French renewable energy group of companies, Akuo Energy SAS.

President Director of Krakatau Steel Silmy Karim said that the signing is on a renewable energy development project collaboration applied in the utilization of the Floating Sollar PV Project or the Floating Solar Power Plant with a total investment of US$14 million.

"The capacity that PLTS will produce in the initial stage is 16 MW with a value of savings in electricity costs of Rp7.8 billion per year. This project is planned to operate commercially by the end of 2022, and PT KTI is targeted to increase its capacity to 40 MW, "he said in Jakarta on Tuesday (6/4).

PT KTI will build the Floating PLTS project by utilizing its water reservoir's surface area in Krenceng Reservoir, Cilegon, Banten. The project, which aims to reduce the cost of electricity consumption and contribute to environmental conservation, fulfills all the project's needs by prioritizing local content according to the Domestic Content Level (TKDN).

Akuo Energy SAS is a world-leading company focused on building renewable energy. Akuo Energy SAS has developed renewable energy of up to 1,400 MW in 18 countries, including the United States, France, Poland, Australia, Croatia, Dubai, Turkey, Uruguay, and Morocco.

Meanwhile, Refi Kunaefi, Director of PT Akuo Energy Indonesia, added that this project would answer the challenges of energy supply needs in the future, depending on renewable energy.

"This collaboration with the Krakatau Steel Group can be enhanced in the exploration of a broader business horizon, especially for the development of a green steel industry which has great potential for market share in Europe," he said.