This Business and Policy Analysis Study to Encourage Investment in Geothermal Power Plants (PLTP) in Indonesia was organized by LPEM FEB UI in collaboration with Sustainable Energy Systems and Policy Research (SESP), the Faculty of Engineering, University of Indonesia and energy law experts with support from the Heat Association Bumi Indonesia (API). This study comprehensively examines various aspects that play an important role in the development of the geothermal business in Indonesia, especially from a technical, regulatory and financial perspective. This White Paper also offers a number of policy recommendations aimed at increasing PLTP investment to accelerate the rate of increase in the geothermal energy mix in Indonesia.