Monday, August 21, 2017 - 11:56:57

Indonesia further invests in geothermal energy

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The Indonesian Government has established a fund worth 3,000 billion rupiah (302 million USD) to promote the survey of geothermal energy to supply power production.

The move is considered as part of the country’s strategy to develop a sustainable green economy, which focuses attention on developing renewable energy resources.

Saritaon Siregar, Director of the Indonesian Ministry of Finance’s Investment Agency said his agency will manage and use the fund, thus supporting local authorities in defining potential geothermal resources and building survey projects.

Private investors are also allowed to access the fund’s loans to develop their geothermal survey projects.
According to the Indonesian Ministry of Energy and Mineral, the country only produced 1,341 MW of electricity from its geothermal energy sources, accounting for roughly only 5 percent of the total capacity of potential geothermal resources.

Geothermal power in Indonesia is an increasingly significant source of renewable energy. As a result of its volcanic geology, Indonesia holds 40 percent of the world's potential geothermal resources, estimated at about 29,000 MW.

Currently, Indonesia is the world's third largest geothermal electricity producer after the United States and the Philippines.-VNA
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