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$275 million fund to push geothermal development launched in Indonesia
With the support of the World Bank Group, the Government of Indonesia has established a $275 million Geothermal Fund to push forward geothermal energy development in the country. This and more will be topic of the upcoming IGC Invest Geothermal – a new Investment Forum on financing geothermal projects worldwide.Munich (renewablepress) - The Government of Indonesia plans to support development of geothermal projects in the country with a USD 275 million Geothermal Fund, financially supported by the World Bank Group. As an emerging economy in Southeast Asia, Indonesia faces an ever growing electricity demand and is making strong efforts to tap mostly into renewable energy sources to provide electricity for further economic growth, with geothermal energy as an important cornerstone of that strategy.
The Director for Geothermal Energy in Indonesia’s Ministry of Energy and Mineral Resources, Yunus Saefulhak announced the establishment of the Geothermal Fund last week in Jakarta. The Fund is mostly funded by the Government of Indonesia, while the World Bank contributes around USD 55 million to the fund. The fund aims to support efforts to provide debt financing, investment, data and information. The Fund will support geothermal exploration efforts in new areas and help mitigate exploration risk. It will be administered by the state-owned infrastructure finance company PT Sarana Multi Infrastructure (SMI). Geothermal energy is an elementary part of the government’s strategy for its energy future.
This and more is topic of IGC Invest Geothermal taking place in Frankfurt am Main/ Germany 7 November 2017 – the worldwide first forum on financing and investment into the development of geothermal projects.
A delegation from Indonesia with representatives from the Ministries of Energy and Finance, as well of state-owned PT SMI will be participating in the event. Yunus Saefulhak from Indonesia’s Ministry of Energy and Mineral Resources and Ilham Nugroho from the Ministry of Finance will present on the Geothermal Fund, risk mitigation efforts and the geothermal development in Indonesia in two separate sessions of the event.
Additional information is available via the website: http://www.investgeothermal.com
Munich, 24 October 2017
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