Jakarta, July 3 -- Indonesia's sovereign wealth fund (SWF), Danantara, has signed a memorandum of understanding (MoU) with ACWA Power, a Saudi Arabian company specializing in desalination and green hydrogen technology, to explore investments in renewable energy projects.

In a statement issued Thursday, Danantara CEO Rosan Roeslani said the potential investments include combined-cycle gas turbines, green hydrogen, and water desalination projects, with total funding estimated at up to US$10 billion.

He explained that the collaboration could help Indonesia achieve its renewable energy targets, including a 34 percent renewable energy mix by 2034 and 87 percent by 2060.

The partnership with ACWA Power is also seen as a key milestone in posi...