The investment plan was a result of the Head of Indonesia Investment Coordinating Board (BKPM), Franky Sibarani’s visit to Seoul, South Korea earlier this March. He said building renewable energy plants such as geothermal power plants must be fully supported to stimulate economic growth of the provinces.
Franky added the investment plan will make use of the geothermal energy potential in Indonesia, which has yet to be explored effectively.
“Investments in renewable energy has been one of the government top priority. Since early last year we have tried a green investment concept,” he said.
Meanwhile, BKPM promotional representative in Seoul, Imam Soejoedi, will monitor the investment until construction.
“The consortium is very optimistic with the changes and simplified rules in Indonesia’s energy sector, and will most likely to finish in the near future,” Imam said in a statement.
South Korean investors have been active in investing in Indonesia. Last year, investments from South Korea raked in $1.2 million, with an increase of 7.6 percent from the previous year, and since 2010, the investment value from South Korean investors reached $8 million (Rp 105 trillion).
Source: Jakarta Globe