THE geothermal industry in Indonesia and the world continues to grow rapidly, offering great potential in efforts to meet the need for clean and sustainable energy. The Indonesia International Geothermal Convention & Exhibition (IIGCE) 2024, which will be held on 18-20 September 2024 at the Jakarta Convention Center (JCC), is an important moment to highlight the future of geothermal energy, identify challenges and formulate opportunities in decades.
Indonesia as a country with the largest geothermal potential in the world, has a potential of up to 24 GW. However, current utilization has only reached 2.4 GW.
Chairman of the Indonesian Geothermal Association (API/INAGA), Julfi Hadi, said that geothermal energy in Indonesia has enormous potential to meet national energy needs. However, the main challenges faced include high initial costs for exploration and development as well as existing regulations.
Challenges of geothermal energy development include high exploration risks, regulations, technology, local community rejection due to misconceptions of geothermal development. To overcome these challenges, collaborative efforts are needed between government, industry and society.
“Better education and outreach on the benefits and risks of geothermal development can help reduce public resistance. The government can also speed up bureaucratic processes and provide incentives to encourage investment in geothermal technology,” he said on Tuesday (17/9).
With a holistic and coordinated approach, geothermal energy development can be a sustainable solution to meet energy needs while reducing dependence on fossil fuels.
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On the other hand, opportunities for developing geothermal energy include several aspects including the provision of baseload energy, not dependent on weather and time, which allows geothermal to replace PLTU because it has similar characteristics.
As one of the countries with the largest geothermal potential in the world, Indonesia has a geothermal potential of up to 24 GW. The many undeveloped fields provide very open investment opportunities and as low-carbon energy, geothermal development is in line with the government’s vision in supporting the achievement of the Net Zero Emissions (NZE) target by 2060 or sooner.
IIGCE 2024, entering its tenth year, will be an important platform to discuss the challenges and opportunities of geothermal energy development in the next decade. The event will bring together experts, practitioners and stakeholders from around the world to share insights and experiences.
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At IIGCE 2024, several important signings will be carried out, including the signing of the LoA, EPC contract and the launch of the Commercial Operation Date (CoD) which will increase the installed capacity by 922.6 MW.
The cooperation related to geothermal development shows a strong commitment to expanding investment and technology. The entire collaboration is estimated to generate investment of USD 3.7 bio.
Julfi Hadi stated that geothermal energy with its baseload characteristics has great potential to become the backbone of clean energy provision in Indonesia. However, we are also faced with various challenges including technology, regulation and funding that we need to overcome together.
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Meanwhile, the Chairman of the Organizing Committee of IIGCE 2024, Boyke Bratakusuma added that IIGCE 2024 is a very important platform to identify solutions to the challenges faced by the geothermal industry.
“We hope that through this event, we can develop various innovations and collaborations that can accelerate the development of geothermal energy in Indonesia,” said Boyke.
At IIGCE 2024, various technological innovations such as Enhanced Geothermal Systems (EGS) and the use of geothermal energy for direct applications such as heating and cooling will be the main topics. Discussions on supporting funding, policies, and regulations are also expected to provide concrete solutions to overcome existing obstacles.
The Indonesian government has demonstrated a strong commitment to supporting geothermal energy development through various policies and incentives. However, collaboration between the public and private sectors and support from the community remain the keys to success in optimizing geothermal energy potential.
Despite the challenges, optimism remains high that geothermal energy will play a significant role in Indonesia’s energy transition towards a greener future. IIGCE 2024 is expected to be an important momentum to encourage the acceleration of geothermal energy development and maximize existing potential for a more sustainable future.
“IIGCE 2024 will be a strategic meeting point for stakeholders to share views and solutions in formulating geothermal development challenges in Indonesia. So that geothermal can later be utilized to achieve the net-zero target by 2060 or sooner,” said Boyke.
With support from all parties and optimization of various existing opportunities, geothermal energy has the potential to play an important role in Indonesia’s energy transition towards a greener and more sustainable future. IIGCE 2024 is expected to be an important momentum to encourage the acceleration of geothermal energy development and maximize existing potential for a more sustainable future. (H-2)
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