A stakeholders’ dynamic to promote renewable energy in emerging markets: A geothermal case study

摘要

Renewable energy (RE) development has increased substantially as a global effort to abate green house gases (GHG) emissions from the electricity sector. Geothermal, as a renewable energy source, could support the decarbonisation of the power sector by providing clean base-load electricity (IFC, 2013). However, geothermal power has only tapped a small proportion of the total of the global reserve. Indonesia as one of the emerging market countries has the second largest geothermal resources, but their current development is still limited only to less than 7% of the total potential capacity (Hasan and Wahjoesoedibjo, 2017). Many scholars argue that the major impediments to the geothermal energy are the high uncertainty of the resources and the long lead time of the development which requires government for de-risking the development phase (ESMAP, 2012; IFC, 2015; DiPippo, 2016).