Menggunakan Pendanaan Swasta untuk Mempercepat Penggunaan Panas Bumi: Pembangkit Listrik Tenaga Panas Bumi, Indonesia

The document examines the challenges and opportunities for geothermal energy in Indonesia, highlighting the Sarulla Geothermal Power Plant as a model for private sector involvement. It argues that while Indonesia has the world's largest geothermal potential (29GW), utilization remains below 5% due to regulatory hurdles, funding gaps, and high exploration risks. The Sarulla project, with a planned 330MW capacity, demonstrates how proven resources, public guarantees, and long-term feed-in tariffs can attract private investment and lower costs. The report concludes that public finance should be strategically focused on the high-risk exploration and field development phases to meet Indonesia's 2025 target of 7.6GW installed capacity.

• Indonesia possesses the largest geothermal resources globally with a potential capacity of 29GW, yet less than 5% of this potential has been utilized to date.
• To reach the government's target of 7.6GW installed capacity by 2025, an annual growth rate of 13.6% is required, which is significantly higher than the 4.8% growth recorded between 2002 and 2013.
• The Sarulla Geothermal Power Plant project, with a total capacity of 330MW, illustrates that private developers are incentivized when resource risks are reduced through prior exploration. In this case, Sarulla Operations Limited (SOL) paid USD 70 million to PLN as compensation for completed exploration activities.
• The levelized cost of electricity (LCOE) for the Sarulla project is estimated at 7.8-8.2 US cents/kWh. While competitive with other global geothermal projects, it remains 40-60% more expensive than coal-fired baseload power in Indonesia, excluding emission and health costs.
• Public support through long-term Feed-in Tariffs (FiT) and guarantees is critical for project bankability. For Sarulla, a 30-year FiT provided revenue certainty and allowed for an expected equity return of 14-16%; without public support, this return would likely drop by 4%.
• Public finance is most effective when targeted at the exploration and field development phases, where commercial funding is scarce. Commercial lenders typically require at least 70% of target capacity to be proven via production wells before providing financing.

APA

Rakhmadi, R., & Sutiyono, G. (2015). Menggunakan Pendanaan Swasta untuk Mempercepat Penggunaan Panas Bumi: Pembangkit Listrik Tenaga Panas Bumi, Indonesia. Climate Policy Initiative. https://www.climatepolicyinitiative.org/wp-content/uploads/2015/06/Menggunakan-Pendanaan-Swasta-untuk-Mempercepat-Penggunaan-Panas-Bumi-Pembangkit-Listrik-Tenaga-Panas-Bumi-Indonesiat-–-Ringkasan-Eksekutif-.pdf

Chicago

Rakhmadi, Randy, and Guntur Sutiyono. Menggunakan Pendanaan Swasta untuk Mempercepat Penggunaan Panas Bumi: Pembangkit Listrik Tenaga Panas Bumi, Indonesia. Climate Policy Initiative, 2015. https://www.climatepolicyinitiative.org/wp-content/uploads/2015/06/Menggunakan-Pendanaan-Swasta-untuk-Mempercepat-Penggunaan-Panas-Bumi-Pembangkit-Listrik-Tenaga-Panas-Bumi-Indonesiat-–-Ringkasan-Eksekutif-.pdf.

Wikipedia

{{cite report |last1=Rakhmadi |first1=Randy |last2=Sutiyono |first2=Guntur |title=Menggunakan Pendanaan Swasta untuk Mempercepat Penggunaan Panas Bumi: Pembangkit Listrik Tenaga Panas Bumi, Indonesia |publisher=Climate Policy Initiative |date=June 2015 |url=https://www.climatepolicyinitiative.org/wp-content/uploads/2015/06/Menggunakan-Pendanaan-Swasta-untuk-Mempercepat-Penggunaan-Panas-Bumi-Pembangkit-Listrik-Tenaga-Panas-Bumi-Indonesiat-–-Ringkasan-Eksekutif-.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{rakhmadi2015menggunakan, author = {Rakhmadi, Randy and Sutiyono, Guntur}, title = {{Menggunakan Pendanaan Swasta untuk Mempercepat Penggunaan Panas Bumi: Pembangkit Listrik Tenaga Panas Bumi, Indonesia}}, institution = {Climate Policy Initiative}, year = {2015}, month = jun, url = {https://www.climatepolicyinitiative.org/wp-content/uploads/2015/06/Menggunakan-Pendanaan-Swasta-untuk-Mempercepat-Penggunaan-Panas-Bumi-Pembangkit-Listrik-Tenaga-Panas-Bumi-Indonesiat-–-Ringkasan-Eksekutif-.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }