The Geothermal Master’s Program, Faculty of Mining and Petroleum Engineering, Institut Teknologi Bandung (ITB) successfully held the Geothermal Financial Model Training in collaboration with PT Energi Mega Persada (EMP). The training was conducted over two days, from September 29 to September 30, 2021, at Villa Adinda, Anyer, running from 8:00 a.m. to 5:00 p.m. each day.

The training was officially opened on Wednesday, September 29, 2021, by the Vice President of Renewable Energy from PT Energi Mega Persada. Throughout the program, participants learned about various key aspects of geothermal project economics. In total, seven topics were covered over the two-day session, including:

1. Fundamentals of economics and project economic indicators

2. Geothermal project economics

3. Government revenue, incentives, and differences between JOC and non-JOC schemes

4. Geothermal electricity tariff and development scenarios

5. Investment and O&M cost estimation

6. Case study exercises on geothermal financial modeling for a field to be developed by PT Energi Mega Persada

The training was delivered by lecturers from the Geothermal Master’s Program of ITB and professional experts in the geothermal field. A total of 10 participants attended, consisting of eight participants from the Renewable Energy Division and two participants from the Planning and Economics Division of PT Energi Mega Persada.

Throughout the sessions, participants were highly engaged in lectures, discussions, and group exercises. All participants actively contributed to the learning process, reflecting their strong interest in geothermal economic analysis. A total of seven presentation materials from the trainers were distributed to all participants for further study.

The training concluded on Thursday, September 30, 2021, at 5:00 p.m., with closing remarks delivered by ITB representatives.

For more information about ITB’s geothermal training programs, please visit: https://geothermal.itb.ac.id/training-program-2/

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