COVID-19 Pandemic Spurs Momentum of Indonesia Geothermal Development, an Industrial Info Market Brief

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Geothermal energy is believed to be a strong foundation for Indonesia for post-pandemic economic recovery. The Asian Development Bank approved a $300 million fund to develop the second phase of PT Geo Dipa Energi's geothermal projects in Central Java and West Java. This illustrates ADB's trust in Indonesia, which could catapult the country's development of renewable energy.

According to Riki Firmandha Ibrahim, president director of PT Geo Dipa Energi (Persero), "The geothermal projects in Central Java and West Java were planned to reach the commercial operation date by 2023-2024, respectively, with another assignment mission--namely to run government drilling to reduce the risk of geothermal exploration investment." This policy will increase private/investor confidence in Indonesia's geothermal sector, which is an opportunity to move forward with a renewable energy foundation toward a low-carbon economy.