PT Sarana Multi Infrastruktur (SMI), a state-owned firm under the Ministry of Finance specializing in providing funds for infrastructure projects, is ready to finance geothermal exploration project in Waesano, Labuan Bajo, East Nusa Tenggara Province, this year.
Darwin Trisna Djajawinata, a Director at SMI, told Petromindo.com on Wednesday that SMI will provide around US$30 million of geothermal support fund (GSF) and grant from the World Bank for the exploration project.
"The exploration will be conducted by Directorate General of Renewable Energy together with Geology Agency at Ministry of Energy and Mineral Resources," he said. The result of the exploration will be used for the auctions of geothermal working areas.
"Currently the project has entered the technical survey, environmental and social assessment as weel as public consultation," he said, adding the exploration activity is expected to be started in the fourth quarter of this year.
"We hope by 2018 the exploration will be completed," he said, adding that there will be a joint team of Ministry of Finance and Ministry of Energy and Mineral Resources to supervise this activity.