| Financier | Commitments |
|---|---|
| Green Climate Fund | 100.00 |
| International Bank for Reconstruction and Development | 150.00 |
| Borrower/Recipient | 75.00 |
| Clean Technology Fund | 75.00 |
Indonesia Geothermal Resource Risk Mitigation Project (GREM)
Abstract*
The objectives of the Geothermal Resource Risk Mitigation Project of Indonesia are to scale up investment in geothermal energy development and support the Borrower in its efforts to reduce greenhouse gas emissions in the country. The project has two components. Component 1 is to mitigate risks in geothermal resource drilling supported through the establishment of a new financing facility is financed with 455 million US Dollars, which consists of 150... Show More
Development Objective
The project development objectives are to scale up investment in geothermal energy development and support the Borrower in its efforts to reduce greenhouse gas emissions in the country.
Key Details
Project Details
P166071
Active
Maria Ayuso Olmedo , Muchsin Qadir
Government of Indonesia
November 8, 2018
(as of board presentation)
September 26, 2019
December 11, 2020
US$ 465.00 million
PT Sarana Multi Infrastruktur (Persero)
2020
US$ 325.00 million
F
March 4, 2024
October 31, 2029
TBD
BANK APPROVED
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | 150.00 |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | 150.00 |
| Lending Instrument | |
|---|---|
| Grant Amount | 175.00 |
| Total Project Cost** | 465.00 |
Summary Status of World Bank Financing (US$ Millions) as of February 28, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Sep 15, 2021 | IBRD-90090 | Int Charges | 142,622.94 |
| Dec 17, 2020 | TF-B3799 | Loan Commitment | 7,500,000.00 |
| Sep 26, 2019 | TF-B0306 | Loan Commitment | 40,000,000.00 |
| Sep 26, 2019 | IBRD-90090 | Loan Commitment | 150,000,000.00 |
| Sep 15, 2021 | IBRD-90090 | Int Charges | 189,041.10 |
| Mar 15, 2023 | IBRD-90090 | Int Charges | 185,958.90 |
| Sep 15, 2023 | IBRD-90090 | Int Charges | 189,041.10 |
| Sep 15, 2022 | IBRD-90090 | Int Charges | 189,041.10 |
| Mar 15, 2024 | IBRD-90090 | Int Charges | 186,778.58 |
| Mar 19, 2021 | IBRD-90090 | Fee Charges | 375,000.00 |
| Mar 15, 2022 | IBRD-90090 | Int Charges | 185,958.90 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Monitoring and Evaluation | Moderately Satisfactory | 2024-10-01 |
| Overall Safeguards Rating | Satisfactory | 2024-10-01 |
| Progress towards achievement of PDO | Moderately Unsatisfactory | 2024-10-01 |
| Project Management | Moderately Unsatisfactory | 2024-10-01 |
| Financial Management | Satisfactory | 2024-10-01 |
| Procurement | Moderately Satisfactory | 2024-10-01 |
| Overall Implementation Progress (IP) | Moderately Unsatisfactory | 2024-10-01 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
PrDO: Generation capacity of geothermal sub-projects reaching financial close Value 0.00 0.00 1000.00 Date February 28, 2019 March 4, 2024 February 28, 2029 Comment PrDO: Estimated GHG emission reduction compared to business as usual baseline Value 0.00 0.00 187000000.00 Date February 28, 2019 March 4, 2024 February 28, 2029 Comment Phase1: Generation capacity of geothermal sub-projects reaching financial close Value 0.00 0.00 600.00 Date February 28, 2019 March 4, 2024 February 28, 2029 Comment Phase1: Estimated GHG emission reduction compared to a business-as-usual baseline Value 0.00 0.00 112300000.00 Date February 28, 2019 March 4, 2024 June 30, 2029 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Sub-projects with Productive Resources Confirmed Value 0.00 0.00 7.00 Date February 28, 2019 March 4, 2024 June 30, 2029 Comment Establishment of national standards for geothermal data registration and professional certifications for geothermal sector Value No No Yes Date February 28, 2019 August 24, 2023 June 30, 2029 Comment Total capital mobilized for investment in geothermal power generation Value 0.00 0.00 2400000000.00 Date February 28, 2019 March 4, 2024 November 28, 2029 Comment Technical guidelines and manual for geothermal management developed for PLN Value No No Yes Date February 28, 2019 March 4, 2024 June 30, 2029 Comment Private capital mobilized for investment in geothermal power generation Value 0.00 0.00 2000000000.00 Date February 28, 2019 March 4, 2024 November 28, 2029 Comment Establishment of a geothermal data management tool and geothermal database for Geo Dipa Value No No Yes Date February 28, 2019 March 4, 2024 June 30, 2029 Comment Total number of exploration wells drilled Value 0.00 0.00 28.00 Date February 28, 2019 March 4, 2024 November 28, 2029 Comment Number of project-level Gender Action Plans (GAPs) prepared by sub-borrowers Value 0.00 0.00 10.00 Date February 28, 2019 March 4, 2024 June 30, 2029 Comment Success rate of wells drilled Value 0.00 0.00 60.00 Date February 28, 2019 March 4, 2024 November 30, 2029 Comment Citizen/community collaboration in planning and decision-making Value No No Yes Date February 28, 2019 March 4, 2024 June 30, 2029 Comment Steam capacity from wells drilled Value 0.00 0.00 48.00 Date February 28, 2019 March 4, 2024 November 28, 2029 Comment PT SMI's compliance with business standards for decision making procedures Value 0.00 50.00 90.00 Date February 28, 2019 March 4, 2024 November 28, 2029 Comment Women employed locally at site in technical roles Value 7.00 7.00 20.00 Date May 31, 2019 March 4, 2024 October 31, 2029 Comment Standard operating procedures (SOP) developed for gender-informed geothermal workplace health and safety Value No SOP currently exists in this area No SOP currently exists in this area SOP in place in place and in line with internation Date May 1, 2019 March 4, 2024 September 30, 2029 Comment Funding Proposals Approved Value 0.00 0.00 10.00 Date February 28, 2019 March 4, 2024 June 30, 2029 Comment Regulatory framework and institutional capacity conducive to geothermal investments Value No No Yes Date February 28, 2019 March 4, 2024 February 28, 2029 Comment