News

World Bank Finances Geothermal Expansion in Indonesia

World Bank26 July 2011: The World Bank has approved two loans to fund geothermal energy in Indonesia: a US$175 million loan from the International Bank for Reconstruction and Development (IBRD), and a US$125 million concessional loan from the Clean Technology Fund (CTF), on the basis of the project's positive impact on climate change.

The two projects will increase Indonesia's geothermal capacity by up to 150 MW. The CTF loan is the first to be approved in East Asia. The World Bank loans will support expansion of geothermal power generation capacity through investment in confirmation of geothermal resources and steam field development, as well as construction of the Steamfield Above-Ground System (SAGS) and power plants of approximately 110 MW and approximately 40 MW at the Ulubelu and Lahendong (Tompaso) geothermal fields, respectively. [World Bank Press Release]