As of March 2021, no longer restricted. Previously, foreign investment in in small-scale geothermal was limited to 67%.
"APPENDIX II - REGULATION OF THE PRESIDENT OF THE REPUBLIC OF INDONESIA NUMBER 49 OF 2021 CONCERNING AMENDMENT TO PRESIDENTIAL REGULATION NUMBER 10 OF 2021 CONCERNING THE INVESTMENT BUSINESS SECTOR
LIST OF BUSINESS FIELDS ALLOCATED OR PARTNERSHIPS WITH COOPERATIVES AND MICRO, SMALL, AND MEDIUM ENTERPRISES
[Energy and Mineral Resources Sector]
- Power plant < 1 MW [see 2019 restrictions below]: Allocated to MSME/cooperatives [no material change]
- Small-scale power plant (1-10 MW) [see 2019 restrictions below]: Open (without condition)[no longer listed]
- Geothermal power plant with a capacity of ≤ 10 MW [see 2019 restrictions below]: Open (without condition)[no longer listed]
- Power plant > 10 MW [see 2019 restrictions below]: Open (without condition)[no longer listed][...]"(Presidential Regulation (PERPRES) No. 49 of 2021 Concerning Amendments to Presidential Regulation Number 10 of 2021 concerning Investment Business Fields [google translation])
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Previously
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"APPENDIX III - REGULATION OF THE PRESIDENT OF THE REPUBLIC OF INDONESIA NUMBER 44 YEAR 2016 CONCERNING LISTS OF BUSINESS FIELDS THAT ARE CLOSED TO AND BUSINESS FIELDS THAT ARE OPEN WITH CONDITION TO INVESTMENT - 
LIST OF BUSINESS FIELDS THAT ARE OPEN UNDER SPECIFIC CONDITIONS [...]
D. Energy and Mineral Resources Sector
- Power plant < 1 MW: Domestic capital 100% 
- Small-scale power plant (1-10 MW): Foreign capital ownership: Max.49%
- Geothermal power plant with a capacity of ≤ 10 MW: Foreign capital ownership: Max.67%
- Power plant > 10 MW: Foreign capital ownership: Max.95% (Maximum 100% for the purpose of Public Private Partnership / KPS during concession period) [...]"(PRESIDENTIAL REGULATION OF THE REPUBLIC OF INDONESIA NUMBER 44 YEAR 2016 CONCERNING LISTS OF BUSINESS FIELDS THAT ARE CLOSED TO AND BUSINESS FIELDS THAT ARE OPEN WITH CONDITIONS TO INVESTMENT)
Presidential Regulation (PERPRES) No. 49 of 2021 Concerning Amendments to Presidential Regulation Number 10 of 2021 concerning Investment Business Fields [google translation]
PRESIDENTIAL REGULATION OF THE REPUBLIC OF INDONESIA NUMBER 44 YEAR 2016 CONCERNING LISTS OF BUSINESS FIELDS THAT ARE CLOSED TO AND BUSINESS FIELDS THAT ARE OPEN WITH CONDITIONS TO INVESTMENT
[<a href="https://peraturan.bpk.go.id/Home/Details/168534/perpres-no-49-tahun-2021">PR49</a>],[<a href="https://peraturan.bpk.go.id/Home/Details/161806/perpres-no-10-tahun-2021">PR10</a>],[<a href="https://peraturan.bpk.go.id/Home/Details/40374/perpres-no-44-tahun-2016">PR44</a>]