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The growing population and a subsequent increasing demand for energy are by far the leading factors propelling the Indonesia power generation market. The power generation in Indonesia stood at 236 TWh in 2015 and is poised to reach 442.5 TWh by 2022, rising at a CAGR of 9.1% from 2014 to 2022. Indonesia-based mining companies are playing an instrumental role in developing the coal-fired power generation sector in the country. Construction of mine-mouth power plants is one of the key strategies being adopted by mining companies in the country. These power plants are expected to provide a distinct competitive advantage to operators owing to the localized nature of fuel supply, thereby working in favor of the overall market. In addition, the rising mining activities coupled with the flourishing quarrying sector are anticipated to support the growth of the market.
Moreover, the government has been compelled to seek different ways to generate power due to depleting oil reserves and burgeoning demand for power generation. Apart from coal, the abundance of natural gas reserves is augmenting the market. However, post-1997 crisis, the cut-down in infrastructure spending has taken its toll on Indonesia’s infrastructure sector. This has led to a detrimental impact on the power plants present in the country, which in turn is limiting the chances of power generation capacity additions. However, increasing inflow of foreign direct investments (FDI) is likely to emerge highly beneficial for power generation sector in the country.
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Abundant Availability of Raw Materials to Fuel Growth of Coal-fired and Geothermal Power Generation Technology
Coal-fired power generation will continue to be the dominant power generation technology until 2022, accounting for more than 50% of the overall market capacity. The ever-increasing demand for power along with the rising need to connect population to the electricity grid drives the demand for coal-fired power generation. Moreover, rapid industrialization and growing agriculture-based activities are working in favor of the segment. The advent of novel technologies such as carbon capture and storage (CCS), fuelled by government efforts and support mechanisms for cleaner power generation, is supporting the growth of the segment. Furthermore, the easy availability of raw material due to the presence of a large number of coal mines is driving the Indonesia coal-fired power generation market.
The shares of the oil-fired segment are expected to nosedive during the forecast period, owing to the gradual phasing out of oil-based power generation plants. Due to rising demand for power, depleting oil reserves, and failure to develop new and equivalent resources, Indonesia became dependent on refinery products and crude oil imports since 2004. Since then, the country is emphasizing on the expansion of power generation capacity utilizing other technologies, especially renewable power generation and coal-fired.
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Geothermal is emerging as an attractive technology for power generation and its power generation capacity is projected to rise at a 13.7% CAGR from 2014 to 2022. Indonesia has abundant geothermal resources and is home to about 40% of the world’s proven geothermal resources, which is higher than any other country. The government is working towards adding 5.0 GW of new geothermal power generation capacity by 2025. In order to achieve this target, the government has enforced several laws and legislations for promoting the development of this sector.
Some of the prominent companies operating in the Indonesia power generation market are PT Indonesia Power, PT PLN Persero, PT Pertamina Geothermal Energy, PT Pembangkitan Jawa Bali, and PT Jawa Power. Other players profiled in this report include Alstom, PT Geo Dipa Energy, Mitsubishi Heavy Industries Ltd., Chevron Indonesia, Hyundai Engineering Co. Ltd., PT Arutmin Indonesia., PT Wartsila Indonesia, Siemens AG, Asia Resource Minerals plc., and United Coal Indonesia.
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