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[News] Optimism Rise In Investing In Indonesia's Geothermal
Posted at: 13 March 2018

As reported from Indonesia, the country’s Directorate General of Renewable Energy and Energy Conservation (EBTKE) of the Ministry of Energy and Mineral Resources targets geothermal investments of more than 80% of all investments in the new renewable energy sector. Of the investment target of about US $ 2 billion, US $ 1.71 billion comes geothermal.

Rida Mulyana, Director General of EBTKE of the Ministry of Energy and Mineral Resources, said that the government will continue to monitor the investment commitments already submitted by business actors. This year the government is more ambitious than last year as there is an increase in targeted commitments.

“The investment recorded from 25 companies reached US $ 1.71 billion of geothermal investment projection for 2018,” Rida told World Energy.

Optimism on geothermal investment is supported by the increasing number of new geothermal working areas (WKP) which PT PLN (Persero) is working on. In addition, some WKP start to the next phase after the exploration period, so it can pour a large amount of investment funds such as PT Star Energy and PT Medco Energi Internasional through PT Medco Power Indonesia.

“PLN is assigning more and more, and the big projects like Sorik Marapi are exploited. Star Energy, and Medco, that’s the projection that will be disclosed in 2018. This is what we are guarding, really has no commitment, “said Rida.

PT Pertamina (Persero) through its subsidiary, PT Pertamina Geothermal Energy (PGE) is still a company with the largest investment commitment of US $ 400 million. After that, PT Supreme Energy will be in three WKP with total investment of US $ 362 million. Then there are Star Energy and Medco, each preparing an investment of US $ 200 million.

(Source: Tempo)