The World Bank has approved $55.25 million in grant funding aimed at facilitating investment in geothermal power generation in Indonesia. The grant is for the geothermal energy upstream development Project and has two components. The larger portion of $49 million is being provided by the Clean Technology Fund (CTF) to support infrastructure development and exploration drilling. An additional $6.25 million comes from the Global Environment Facility to support technical assistance designed to build capacity in geothermal exploration, including safeguards and due diligence. Indonesia’s Ministry of Finance and state-owned infrastructure financing company PT Sarana Multi Infrastruktur will match the CTF funding for the project.
