MEMR Secretary General Dadan Kusdiana stated that Indonesia has currently only received USD 500 million from a total commitment of USD 21.6 billion from the JETP scheme. JETP is an initiative of developed countries that are members of the International Partners Group (IPG). Member countries include the United States, Japan, Denmark, England, Italy, Germany, Canada, Norway, France, and the European Union.
Dadan had previously stated that a geothermal power plant to be developed by PT Medco Power Indonesia will be one of the projects to receive funding from the JETP. Funding for the project was said to be in the finalization process, although Dadan declined to state which project he was referring to.
PT Medco Cahaya Geothermal, a joint venture of PT Medco Power Indonesia and Ormat Technologies, had recently announced a target commercial operations date by the end of 2024 for the Ijen geothermal power plant in East Java.
Funding from the JETP is distributed and manage by PT Sarana Multi Infrastrucktur (SMI) for geothermal projects. Dadan said that the JETP funding is expected to facilitate discussions on the development of renewable energy projects, both in terms of commitment from developers and investors, as well as technical implementation.
