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."
The World Bank
Peter Johansen, Senior Energy Specialist
1818 H Street NW, Washington DC 20433
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