Geo Dipa seeks to tap into geothermal fund
Friday, March 25 2016 - 07:28 AM WIB
State owned PT Geo Dipa Energi is seeking to tap into the government?s geothermal support fund to help finance the development of Candradimuka geothermal work area in Dieng, Wonosobo, Central Java.
Yunus Saefulhak, Director of Geothermal at the Directorate General of New and Renewable Energy, said on Thursday that Geo Dipa has made the proposal to utilize the fund to the Ministry of Finance.
He added that the company is currently waiting for the completion of evaluation by the ministry, and the terms and conditions for the disbursement of the geothermal funds.
Yunus said that Geo Dipa plans to develop the Candradimuka geothermal power plant with capacity of 55 MW, with estimated investment of SU$220 million. The planned project is currently at the feasibility study stage.
The geothermal support fund is managed by PT Sarana Multi Infrastruktur (Persero) (PT SMI), an infrastructure financing company 100 percent owned by the Government of Indonesia. It has the mandate to manage the geothermal support funds amounting to Rp 3.1 trillion. The fund will be utilized to promote geothermal exploration and exploitation in Indonesia.
Editing by Reiner Simanjuntak