Ormat and PT SMI explore financing options for geothermal projects in IndonesiaSigning of cooperation agreements at the 11th Indonesia International Geothermal Convention & Exhibition in Jakarta, Indonesia (source: PT SMI)Carlo Cariaga 18 Sep 2025PT SMI and PT Ormat Geothermal Indonesia will be exploring financing options for the exploration of two geothermal sites in Maluku and Sulawesi in Indonesia. Initial financing options will utilize the Geothermal Resource Risk Mitigation Program (GREM) facility, a geothermal exploration financing facility developed by the World Bank and Government of Indonesia through PT SMI. PT SMI is a Special Mission Vehicle under the Ministry of Finance which is engaged in development financing. Another project which has been funded by PT SMI is the Ijen geothermal power plant, which was just inaugurated earlier this year. With this vision, Indonesia is geared towards becoming a developed nation that is energy independent and environmentally friendly.”Source: PT SMI