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Jakarta Post

Geothermal projects `less attractive' for investors

  • Benget Besalicto Tnb.

    The Jakarta Post

Jakarta   /   Thu, July 30 2009   /  12:53 pm

Poor resource data, opaque tender processes and inadequate provisions in Power Purchase Agreements (PPA), have made investors shy away from developing geothermal power plants in Indonesia, an investment officer at the International Finance Corporation (IFC) said on Wednesday. "I think the *Indonesian* government needs to tackle those problems seriously if it wants investors to take interest in its renewable energy sector," Jack Sidik told reporters in a discussion organized by the IFC, the World Bank's private arm. Sidik was referring to the second stage of Indonesia's 10,000 megawatt (MW) electricity program, which aims to generate 4,000 MW of electricity from geothermal-fired power plants by the year 2014. The first stage of the program was finalized earlier this year, using mostly coal and natural gas. Sidik said poor resource data made it difficult for investors to fix...