Investment in geothermal sector exceeds target: Official

By Cepi Setiadi

Director of Geothermal at Ministry of Energy and Natural Resources Yunus Saefulhak stated that investment in the geothermal sector in the first half of this year has exceeded target amid strong interest from foreign investors in geothermal projects offered by the government.

He said that investment in the geothermal sector in the January-June period of this year reached US$580 million, exceeding more than half of the full-year target of $690 million.

Yunus told petromindo.com that the government is optimistic that the full-year target can be achieved, or even exceeded.

He said many companies from several countries such as Japan, Italy, the US, and the Philippines have participated at auctions of geothermal projects offered by the government of Indonesia.

Editing by Reiner Simanjuntak