JAKARTA: Businesses have been reluctant to participate in geothermal projects auctioned by state electricity company PT PLN, with analysts pointing to the projects’ unattractive returns that may not sufficiently compensate for the risks faced during development.
PLN is offering nine geothermal projects with a total capacity of around 260 megawatts (MW) in March last year, including the Tulehu project in Central Maluku, Atadei in East Nusa Tenggara, Songa Wayaua in North Maluku, Tangkuban Perahu in West Java, Ungaran in Central Java and Kepahiang in South Sumatra.
