State power utility company PT PLN has confirmed that it will open several funding sources for the construction of a geothermal power plant (PLTP) in Maluku, in accordance with the direction of the Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia.

Executive Vice President for Corporate Communications & Social and Environmental Responsibility at PT PLN, Gregorius Adi Trianto, said that several funding sources, both internal and other potential, will be opened by the company for the development of PLTP in Maluku.

"The funding source for PLTP in Maluku comes from PLN's internal allocation and potential financing from various external sources, such as grants from national and international financial institutions," Gregorius said as quoted by Katadata, on Tuesday, April 15, 2025.

He said the company is committed to carrying out government directives to encourage the energy transition in Indonesia. The method is by developing power plants that are sourced from renewable energy, one of which is geothermal.

Regarding the direction of the Minister of ESDM to develop PLTP in Maluku, he said that PLN already has two geothermal working areas (WKP) in the region. The two WKPs are Tulehu Ambon and Wapsalit in Buru.

"The Geothermal Permit (IPB) for the Tulehu WKP is owned by PLN and has been drilled with a total of 5 (five) exploration wells. The details are, one well in 2010 and four wells in 2017-2018," he said.

Gregorius cited that currently PLN is in the process of conducting a joint study with prospective partners to formulate the most optimal PLTP development strategy in the region.

Meanwhile, this joint study will later be followed up with the signing of an agreement document in the GEECA (Geothermal Exploration and Energy Conversion Agreement) scheme.

"The joint study is targeted for completion in July 2025, while the signing of the GEECA agreement is targeted to be realized in the fourth quarter of 2025," he said.

Meanwhile, in the initial funding, the funding requirements for the construction of the PLTP, especially upstream activities such as exploration drilling, will be borne by the partner and the licensing and land acquisition aspects as well as the construction of the downstream side of the power plant will be the responsibility of PLN.