Monday, May 9, 2016

Indonesia, New Zealand: Call for Investment in Geothermal Projects by NZ

Economy in brief: NZ urged to realize power plant investments (Jakarta Post)

The Investment Coordinating Board (BKPM) is calling for New Zealand to realize its investment commitments and build its planned geothermal power plants in Indonesia.

“In 2014, a memorandum of understanding between both countries to cooperate in building geothermal power plants was signed. The total investment was US$12.86 million,” BKPM chief Franky Sibarani said in a statement on Friday during the Indonesia-New Zealand Investment Forum in Auckland, as quoted by Franky explained that the BKPM had encouraged that the plan be realized soon as it would help the 35,000 MW project planned by the government.

“New Zealand has already been involved in the development of Kamojang’s geothermal-fueled power plants [PLTP] since 1970,” he said, adding that the country has the potential, including in terms of technology, to develop PLTPs in Indonesia.