World Bank finances Waisano geothermal exploration
Friday, September 16 2016 - 01:04 AM WIB
The World Bank has provided funds worth US$20 million through state-owned infrastructure financing company PT Sarana Multi Infrastruktur to finance geothermal exploration in Waisano, Flores, East Nusa Tenggara Province.
This was said by Director of Geothermal at the Directorate General of New and Renewable Energy, Yunus Saefulhak on Thursday. ?The $20 million funds are allocated for financing various activities from 3G (geology, geophysics, and geochemical) to exploration drilling,? he said.
He said that once exploration activity to determine the reserves has been completed, the geothermal working area will be offered to investors via tender. The winning bidder will then repay the World Bank funds.
Yunus said that the 3G activities have been completed, to be followed with road infrastructure development, while drilling program is expected to start in August of next year.
Editing by Reiner Simanjuntak