Revenue of geothermal industry in Indonesia hits 134% of 2021 target

Revenue of geothermal industry in Indonesia hits 134% of 2021 target City skyline Jakarta, Indonesia (source: flickr/ Charles Erbianco, creative commons)
Carlo Cariaga 17 Jan 2022

With close to USD 100 million in total revenues for 2021, the geothermal industry in Indonesia is poised for further growth

The Indonesian government, through the Energy and Mineral Resources Ministry, has collected Rp 1.92 trillion (USD 99.8 million) in non-tax state revenues in 2021 from geothermal management. This is around 34% higher than the 2021 target of RP 1.43 trillion.

According to Director General of New, Renewable Energy and Energy Conservation Dadan Kusniada, 97% of the revenue cam from existing geothermal work areas in the form of government share deposits. The other 3% came from geothermal permit holders.

There were also other factors that contributed to this growth in revenue, namely – optimization of geothermal development costs, smaller operating costs, amendments to increase the selling price of electricity, and fluctuations in the US dollar-rupiah exchange rate.

For 2022, the Indonesian government is targeting to invest USD 0.95 billion into the geothermal industry. This is on track with the country’s goal of generating 7.24 GW of geothermal power by 2025 and 9.3 GW by 2035. In terms of additional capacity, the government is targeting a capacity growth of 683 MW until 2024.

Source: Antara News