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HomeAlternative EnergiesGeothermal PowerIndonesia needs up to $10bn geothermal investment to 2030

Indonesia needs up to $10bn geothermal investment to 2030

Indonesia needs up to $10bn geothermal investment to 2030
Drilling rig on site of Sokoria geothermal project, Indonesia (source: KS Orka)

Indonesia remains ambitious on its geothermal development targets set at adding 2,620 MW by 2030 with an estimated required investment of $10.4 billion.

The Indonesian Ministry of Energy and Mineral Resources (ESDM) is targeting to reach 9,300 MW in geothermal power generation capacity by 2035, according to KataData.

The current installed capacity has so far only reached 2,175 MW. Director of Geothermal at the Ministry of Energy and Mineral Resources, Harris, said the difference in the installed capacity of the geothermal power plant would be met in the next fourteen years. To meet this target, a cost of US$ 28.5 billion or Rp 404.7 trillion is required. It is estimated that the PLTP investment for 1 MW will require US$ 4 million. “With an additional capacity target of up to 2035 of 7,125 MW, around US$ 28.5 billion is needed,” Harris told today.

In the draft of the General Plan for the Provision of Electricity for 2021-2030, an additional geothermal power plant capacity of 2,620 megawatts (MW).

Thus, the installed capacity of geothermal power plants in 2030 will reach 4,795 MW. The Director General of Electricity, Rida Mulyana, previously said that New and Renewable Energy (EBT)-based power plants will continue to increase in the next ten years. This is in line with the Government’s plan to increase power generation capacity of around 40,000 Megawatts (MW).

This addition is part of the anticipation of increasing demand according to the results of the ESDM Ministry’s prognosis. “We make sure of the additional 40,000 MW over the next 10 years, almost 52 percent is based on renewable energy,” he said.

During the 2020-2024 period, the Ministry of Energy and Mineral Resources plans to conduct geothermal exploration in 20 areas with a capacity of 683 MW.

For the full article and details on the projects that are part of the planned drilling campaign see link below.

Source: KataData

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