Financial Feasibility and Fiscal Policy Analysis toward Geothermal Power Plant Project in Indonesia through Financial Modeling (Case Study: Field XYZ)

Prihandito, Dinis Triandra (2021) Financial Feasibility and Fiscal Policy Analysis toward Geothermal Power Plant Project in Indonesia through Financial Modeling (Case Study: Field XYZ). Undergraduate thesis, Institut Teknologi Sepuluh Nopember.

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Abstract

Studi ini bertujuan untuk mengidentifikasi kelayakan finansial sebuah Pembangkit Listrik Tenaga Panas Bumi (PLTP) juga solusi untuk membuat PLTP lebih ekonomis untuk memenuhi kebutuhan energi nasional Indonesia. Analisis daya saing dari PLTP terhadap Pembankit Listrik Tenaga Uap (PLTU) juga dilakukan untuk mengidentifikasi keunggulan pembangkit listrik sebagai pilihan alternatif investasi. Untuk menilai aspek finansial proyek, studi ini menganalisis dampak dari kebijakan insentif fiskal yang dapat diberikan oleh Pemerintah. Dampak dari Investment Tax Credit (ITC), skema Cost Recovery, Clean Development Mechanism (CDM), Pajak Penambahan Nilai (PPN), dan insentif Bea Impor terhitung dapat mengurangi harga jual listrik sebanyak $1.59 sen/kWh, $1.50 sen/kWh, $1.21 sen/kWh, $0.98 sen/kWh, $0.3 sen/kWh, dan $0.06 sen/kWh secara berurutan. Kemudian, dari penghitungan Levelized Cost of Electricity (LCOE), kebijakan Pajak Karbon akan membuat proyek PLTP lebih ekonomis dibanding PLTU dalam jangka panjang.
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This study is intended to identify financial feasibility of a geothermal power plant
as well as the ways to make geothermal power plant more economic to fulfill
Indonesia’s national energy demand. Competitiveness analysis of geothermal
toward coal-fired steam power plant is also assessed to identify the worthiness of
the project as an investment alternative. To assess the geothermal project’s
financials and competitiveness, this study analyzed the impact of various fiscal
incentives from Government as well as the application of Clean Development
Mechanism (CDM) and imposing carbon tax to coal-fired steam power plant. The
result of the study indicated that fiscal incentives from government, application of
CDM, and imposing carbon tax toward coal-fired steam power plant can increase
the project financials’ performance and competitiveness. The impact of Investment
Tax Credit (ITC), Cost Recovery Incentive, Clean Development Mechanism
(CDM), Value-added Tax (VAT) Incentive, Import Duty Incentive, and Initial
Survey Incentive could lower the required electricity selling price by as much as
USD 1.59 cents/kWh, USD 1.50 cents/kWh, USD 1.21 cents/kWh, USD 0.98
cents/kWh. USD 0.3 cents/kWh, and USD 0.06 cents/kWh respectively. In
addition, from Levelized Cost of Electricity (LCOE) calculation, enacting carbon
tax would make geothermal project more competitive compared to coal-fired steam
power plant.

Item Type: Thesis (Undergraduate)
Uncontrolled Keywords: Geothermal, power plant, electricity price, Levelized Cost of Electricity (LCOE), renewable energy, fiscal incentive
Subjects: T Technology > TK Electrical engineering. Electronics Nuclear engineering > TK1318 Geothermal Power Plants
Divisions: Faculty of Industrial Technology and Systems Engineering (INDSYS) > Industrial Engineering > 26201-(S1) Undergraduate Thesis
Depositing User: Dinis Triandra Prihandito
Date Deposited: 26 Aug 2021 02:41
Last Modified: 12 Jan 2022 03:03
URI: http://repository.its.ac.id/id/eprint/88542

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