Indonesia: Geothermal Resource Risk Mitigation Project Could Add 1-1.5 GW Geothermal Energy Capacity if Funding is Approved

Green Climate Fund announces ambitious plans for next Board meeting: USD 1.1 billion in project proposals, including first GCF climate finance for China (News Release)

The Green Climate Fund has announced that its Board will consider projects to a value of USD 1,148.4M for approval at its meeting on October 10-11.

The project proposals, supporting low emission, climate-resilient development around the world, include one for geothermal energy.

The proposal for the Indonesia Geothermal Resource Risk Mitigation Project submitted by The World Bank, will support geothermal developers’ resource confirmation drilling.

The Project will be financed by the International Bank for Reconstruction and Development (IBRD) (US$325 million loan), and the Green Climate Fund (GCF) (US$25 million soft loan, US$150 million reimbursable grant, and US$10 million grant).

Ultimately, the project is expected to add an additional electric power generation capacity of 1-1.5 GW from geothermal resources and US$4 – 5.5 billion of mostly private capital mobilized for investment in geothermal power generation.

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