Masdar, a renewable energy company, and PT PJBI, a subsidiary of Indonesia’s state-owned electricity company PT PLN, announced that financial close had been achieved on the 145 MW Cirata floating solar PV project, and construction work has begun. Financing for the project was arranged through Sumitomo Mitsui Banking Corporation, Societe Generale, and Standard Chartered Bank. The project is being developed by PT. Pembangkitan Jawa Bali Masdar Solar Energi, a joint venture between Masdar and PT PJBI and is expected to begin commercial operation in the fourth quarter of 2022.