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Indonesia invites NZ investment into geothermal projects

Indonesia invites NZ investment into geothermal projects JW Marriott, Jakarta, Indonesia (source: flickr/ Aktiv Phil, creative commons)
Francisco Rojas 13 Nov 2014

President Joko Widodo is currently on an overseas official visit and invites NZ to invest and participate in the building and development of geothermal power plants in Indonesia.

Local Indonesian news inform that President Joko Widodo is currently on an overseas official visit, trying rally up funds to develop infrastructure and energy projects at home.

According to the news piece. on the sideline of the 25th ASEAN Summit in Nay Pyi Taw, Myanmar, the President met with the New Zealand Prime Minister Jhon Key and invited the New Zealand business people to invest geothermal
energy projects in Indonesia.

“We see that New Zealand has a lot of experience in developing geothermal power,” President Jokowi said during the bilateral meeting as reported by Suara Pembaruan.

“The relations between Indonesia and New Zealand will be positive if the economic and investment cooperation is translated into concrete actions, for instance building geothermal power plants,” the President said.

Indonesia has about 27 gigawatt (GW) geothermal energy potentials, the largest in the world, however, so far only less than 5 percent that has been utilized or developed. Industry players and investors blamed red-tapes, overlapping regulations, lack of incentives and lack of decisiveness of the previous governments have caused the slow progress of geothermal projects in Indonesia. President Joko Widodo reiterated his government determination at the Asia Pacific Economic Cooperation (APEC) in Beijing few days ago to simplify investment permits and procedures by establishing one-stop service agency.

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Source: Rambu Energy