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April 16, 2014

State Department Announces $6 Billion for Geothermal in Southeast Asia

As you may have read in last week’s Energy & Environment Newsletter, the State Department has announced a new $6 billion initiative to promote and finance the development of 12 GW of geothermal resources in Indonesia. The following are some initial elements of the effort:

  1. The monies will come from leveraging existing financing authorities at Ex-Im, OPIC, USTDA, and State.
  2. The goal is to export U.S. goods and services to Jakarta, develop resources in Sumatra, and transmit the renewable power to Singapore. The Singapore government is interested in drastically reducing its coal fleet and to promote itself as a “eco-friendly” city-state.
  3. The underlying policy rationale surrounds overcoming the difficult FDI climate in Indonesia, which the U.S. is hoping to overcome through this initiative. This will also align with the Administration’s diplomatic Asia “pivot” efforts.
  4. Currently, State is looking to garner private sector interest for this initiative, and is seeking companies for a potential Southeast Asia due diligence mission.
  5. There will be a major announcement – likely by Secretary Kerry – this September at the ASEAN Summit in Brunei.
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About the Author

Jordin Collins, government relations, Mintz levin law firm
Director of Government Relations

Jordan advises clients on issues surrounding clean energy investments, capital markets, and technology commercialization as well as on federal and state policy developments in these areas.

Before joining ML Strategies, Jordan worked for SRA, Inc. as a consultant to the US Department of Energy in both the Office of Energy Efficiency and Renewable Energy and the Office of Policy and International Affairs. In his capacity as a policy and regulatory analyst, Jordan researched and drafted memoranda analyzing clean energy regulatory, tax, market, trade, and financial issues on behalf of...

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