Indonesia Allocates $302 Million to Back Geothermal Exploration

Indonesia started a fund to finance the exploration of geothermal energy resources as the nation seeks to reduce its dependence on fossil fuels for electricity.

The finance ministry’s investment agency will manage 3 trillion rupiah ($302 million) this year for geothermal exploration, Saritaon Siregar, the agency’s chairman, said in an interview at a conference in Jakarta today. Local governments that have geothermal areas can use the fund to determine their potential, he said.

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Posted June 19, 2013 by repit in News

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