In 2006, the MEMR initiated the Master Plan Study for Geothermal Power Development in Indonesia, funded by the Japan International Cooperation Agency, to further solidify knowledge and understanding about developing Indonesia’s geothermal resources. In 2012, the MEMR, with the issuance of MEMR Regulation No. 22 of 2012, set out a feed-in-tariff (FIT) policy for geothermal electricity. That same year the Ministry of Finance established a geothermal fund in the amount of more than US$200 million of initial capitalization to mitigate resource risks related to geothermal development, as reported in a 2015 Asian Development Bank publication titled “Unlocking Indonesia’s Geothermal Potential.” And in 2014, the MEMR, through the issuance of MEMR Regulation No. 17 of 2014, set out a new FIT policy based on commercial operation dates and regions.
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