Indonesia Geothermal Resource Risk Mitigation Project (GCF-FP083)

Countries
  • Indonesia
Where the impacts of the investment may be experienced.
Financial Institutions
  • Green Climate Fund (GCF)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 15, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
World Bank
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant, Loan
The categories of the bank investment: loan, grant, etc.
Loan Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Grant Amount (USD)
$ 160.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 510.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ GCF website

Updated in EWS Oct 7, 2018


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to the GCF document, "the proposed Project will provide financing instruments to mitigate resource risk, which is the key barrier to geothermal development in Indonesia. The Project will contribute to Indonesia’s geothermal development goal of adding 5.8 GW by 2026 The Project includes a risk mitigation facility for geothermal resource confirmation (including exploration and delineation/test drilling) and technical assistance. GCF funds will be used to provide soft financing to public developers (GCF soft loan), and to subscribe to convertible bonds issued by private developers (GCF reimbursable grant). Mitigation of the drilling risk is possible because of the level of concessionality and the characteristics of the GCF reimbursable grant."

Investment Description
  • Green Climate Fund (GCF)
World Bank: US$ 325 million

 

GCF: US$25 million soft loan, US$150 million reimbursable grant, and US$10 million grant
Contact Information

The World Bank
Peter Johansen, Senior Energy Specialist
Email: pjohansen@worldbank.org
Telephone:+1.202.458.5578
1818 H Street NW, Washington DC 20433

ACCOUNTABILITY MECHANISM OF GREEN CLIMATE FUND
The Independent Redress Mechanism (IRM) is the independent complaint mechanism for a person or people who have been or believe they are likely to be adversely affected by a project or programme funded by the Green Climate Fund. If you submit a complaint to the IRM, it may seek to address the issues raised by facilitating a problem-solving dialogue or, if that is not possible, conducting an independent investigation into whether the GCF has complied with its environmental and social policies.  The IRM is newly created and is still in the process of developing its procedures and website.  More information about the IRM and how you can file a complaint is forthcoming. You can contact the IRM at irm@gcfund.org.