JAKARTA - The World Bank said Friday it will extend Indonesia a US$55.25 million grant to facilitate geothermal energy power plant development in the country, which aims to become the world's biggest geothermal producer. The bank said in a statement that the grant will support Indonesia's Geothermal Energy Upstream Development Project and will mostly be used to fund infrastructure development and drilling exploration. "Insufficient energy holds back Indonesia's growth potential and limits the future opportunities of millions of Indonesians," said Rodrigo Chaves, the bank's country director for Indonesia. "The World Bank fully supports the government's efforts to achieve 100% access to modern, reliable electricity as quickly as possible," he added. Indonesia, which utilises only 5% of its estimated geothermal potential of 29.5 gigawatts, aims to surpass the United States as the world's biggest producer by 2025.

Source: Bangkok Post February 10, 2017 10:18 UTC