Signing adds Germany to list of geothermal financiers

In Indonesia, that country signed $9.37 million soft loan package from Germany to fund geothermal projects in the country. The story said that some of the loan had been disbursed since 2007. Tthe Foreign Department’s Retno Masudi said after the signings with German Ambassador Norbert Bass that Germany has the technology for the projects while Indonesia could hold upwards of 40% of the world’s geothermal potential. He said that the projects to be developed are aimed at taking the geothermal contribution in domestic energy use to a modest five percent by 2025. The two countries also formalized several past agreements that have included tsunami reconstruction for Aceh, Central Java and Yogyakarta reconstruction since 2006 and total $148.6 million.