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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...

* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature

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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

  • Indonesia

  • November 8, 2018

  • (as of board presentation)

    September 26, 2019

  • December 11, 2020

  • US$ 465.00 million

  • PT Sarana Multi Infrastruktur (Persero)

  • East Asia and Pacific

  • 2020

  • US$ 325.00 million

  • F

  • March 4, 2024

  • October 31, 2029

  • TBD

  • BANK APPROVED

  • Notes

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
Green Climate Fund 100.00
International Bank for Reconstruction and Development 150.00
Borrower/Recipient 75.00
Clean Technology Fund 75.00

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

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No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of February 28, 2025

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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

Footnotes

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

INDICATORBASELINECURRENTTARGET
  • PrDO: Generation capacity of geothermal sub-projects reaching financial closeValue0.000.001000.00
    DateFebruary 28, 2019March 4, 2024February 28, 2029
    Comment
  • PrDO: Estimated GHG emission reduction compared to business as usual baselineValue0.000.00187000000.00
    DateFebruary 28, 2019March 4, 2024February 28, 2029
    Comment
  • Phase1: Generation capacity of geothermal sub-projects reaching financial closeValue0.000.00600.00
    DateFebruary 28, 2019March 4, 2024February 28, 2029
    Comment
  • Phase1: Estimated GHG emission reduction compared to a business-as-usual baselineValue0.000.00112300000.00
    DateFebruary 28, 2019March 4, 2024June 30, 2029
    Comment

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Sub-projects with Productive Resources ConfirmedValue0.000.007.00
    DateFebruary 28, 2019March 4, 2024June 30, 2029
    Comment
  • Establishment of national standards for geothermal data registration and professional certifications for geothermal sectorValueNoNoYes
    DateFebruary 28, 2019August 24, 2023June 30, 2029
    Comment
  • Total capital mobilized for investment in geothermal power generationValue0.000.002400000000.00
    DateFebruary 28, 2019March 4, 2024November 28, 2029
    Comment
  • Technical guidelines and manual for geothermal management developed for PLNValueNoNoYes
    DateFebruary 28, 2019March 4, 2024June 30, 2029
    Comment
  • Private capital mobilized for investment in geothermal power generationValue0.000.002000000000.00
    DateFebruary 28, 2019March 4, 2024November 28, 2029
    Comment
  • Establishment of a geothermal data management tool and geothermal database for Geo DipaValueNoNoYes
    DateFebruary 28, 2019March 4, 2024June 30, 2029
    Comment
  • Total number of exploration wells drilledValue0.000.0028.00
    DateFebruary 28, 2019March 4, 2024November 28, 2029
    Comment
  • Number of project-level Gender Action Plans (GAPs) prepared by sub-borrowersValue0.000.0010.00
    DateFebruary 28, 2019March 4, 2024June 30, 2029
    Comment
  • Success rate of wells drilledValue0.000.0060.00
    DateFebruary 28, 2019March 4, 2024November 30, 2029
    Comment
  • Citizen/community collaboration in planning and decision-makingValueNoNoYes
    DateFebruary 28, 2019March 4, 2024June 30, 2029
    Comment
  • Steam capacity from wells drilledValue0.000.0048.00
    DateFebruary 28, 2019March 4, 2024November 28, 2029
    Comment
  • PT SMI's compliance with business standards for decision making proceduresValue0.0050.0090.00
    DateFebruary 28, 2019March 4, 2024November 28, 2029
    Comment
  • Women employed locally at site in technical rolesValue7.007.0020.00
    DateMay 31, 2019March 4, 2024October 31, 2029
    Comment
  • Standard operating procedures (SOP) developed for gender-informed geothermal workplace health and safetyValueNo SOP currently exists in this areaNo SOP currently exists in this areaSOP in place in place and in line with internation
    DateMay 1, 2019March 4, 2024September 30, 2029
    Comment
  • Funding Proposals ApprovedValue0.000.0010.00
    DateFebruary 28, 2019March 4, 2024June 30, 2029
    Comment
  • Regulatory framework and institutional capacity conducive to geothermal investmentsValueNoNoYes
    DateFebruary 28, 2019March 4, 2024February 28, 2029
    Comment