Indonesia:

Indonesia Allocates $302 Million to Back Geothermal Exploration (Jakarta Globe)

(Courtesy CIA.gov)

The government of Indonesia has started a fund to finance the exploration of geothermal energy resources as the nation seeks to reduce its dependence on fossil fuels for electricity.

The finance ministry’s investment agency will manage Rp 3 trillion ($302 million) this year for geothermal exploration, Saritaon Siregar, the agency’s chairman, said in an interview at a conference in Jakarta on Tuesday.

Local governments that have geothermal areas can use the fund to determine their potential, he said.

“If exploration shows good results, the local government can put the area for bidding and investors that win can repay the exploration funds to us,” Siregar said.

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