World Bank provides $50m for geothermal explorations in Flores
Tuesday, September 20 2016 - 06:21 AM WIB
The World Bank has provided a total of US$50 million worth of grant to finance exploration activities at three geothermal fields in Flores, East Nusa Tenggara Province.
?The total grant from World Bank for five years is $50 million for the drilling of 2-3 exploration wells at three (geothermal) fields in Flores including Waisano, Songa Waiuwa, and Gunung Sirung,? said Director of Geothermal at the Directorate General of New and Renewable Energy, Yunus Saifulhak to Petromindo.com.
He said that about $20 million will be allocated for the first location in Waisano field.
?We?re currently planning to develop ?Flores Geothermal Island? because Flores has huge geothermal potential of up to 1,900 MW,? he said.
Among of the geothermal power plants currently in operation in Flores are the 1.8 MW Matalako geothermal plant, and 4x2.5 MW Ulumbu.
He said that state-owned infrastructure fund company PT Sarana Multi Infrastruktur (SMI) has also agreed to provide $50 million for similar projects in other locations. He did not provide details.
Editing by Reiner Simanjuntak