ocean energy

UAE eyes investments in Indonesian geothermal industry

The United Arab Emirates is eying investments in Indonesia’s geothermal industry, according to Indonesian Foreign Minister Marty Natalegawa. His pronouncement came after a day of meetings with UAE officials in Jakarta.

“Indonesia has a huge potential to be the world's largest geothermal energy user while UAE, as chairman of the International Renewable Energy Agency, is willing to promote the use of environmentally friendly energy to the world,” Natalegawa told the Xinhua News Agency.

During his visit to the Indonesian capital this week, Sheikh Abdullah bin Zayed Al Nahyan praised the country’s efforts to increase the use of renewable energy resources and its bid to become one of the biggest geothermal players in the world.

President Susilo Bambang Yudhoyono earlier said the country aimed to become the world’s top user of geothermal energy.

Indonesia currently ranks third behind the US and the Philippines in terms of geothermal energy generation.

To accelerate the development of geothermal power plants, the government would look to cooperate with international financial institutions and donor countries, Yudhoyono said.

The Indonesian government is looking to attract around $12 billion n investment for its geothermal sector to boost geothermal energy production to 3,977 megawatts as part of phase two of its 10,000 MW power development project.

For additional information:

Jakarta Globe

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