SMI provides Rp 3.1 trillion of geothermal support fund
Saturday, February 13 2016 - 08:24 AM WIB
PT Sarana Multi Infrastruktur (Persero) (PT SMI), an infrastructure financing company 100 percent owned by the government, stated that it has a mandate to manage funds amounting to Rp 3.1 trillion to support the development of geothermal projects in the country.
Darwin Trisna Djajawinata, Director at SMI said in his presentation on Friday at Bali Clean Energy Forum 2016 that the fund will be utilized to promote geothermal exploration and exploitation activities in Indonesia.
"SMI has strategic initiatives focusing on clean energy infrastructure, one of the initiatives is providing geothermal support fund," he said, adding that other initiatives are financing and advisory focus and institutional cooperation.
Darwin explained that in the areas of financing and advisory the company currently have eight financing projects for hydro and mini hydro power plants with about Rp 1 trillion in financing commitment; two advisory projects in wind energy; two advisory projects in waste to energy; two advisory projects in hydro and mini hydro power plants; and also financing sector expansion to energy efficiency. In addition, the company has financing and advisory cooperation with multilateral institutions to promote renewable energy infrastructure development in Indonesia.
"Hence if there are investors who are interested in entering the geothermal sectors, and has enter the exploration stage, they can call us to get into the Geothermal Support Fund (program)," he said to Petromindo.com.
PT SMI was established in 2009 to support the government?s infrastructure development agenda through partnerships with private and/or multilateral financial institutions in Public-Private Partnership (PPP) projects.
Editing by Reiner Simanjuntak