EDC secures Indonesian geothermal search rights

EDC discontinued its geothermal exploration in Peru last year, citing ‘political and market factors,’ despite earlier plans to continue geothermal projects in Peru, Chile and Indonesia

Energy Development Corp.’s head of business development, Joeffrey Caranto, and Business Development head, Ivana Sandra Luciana, presented two concession rights awards that the company received from the Indonesia Ministry of Energy and Mineral Resource at the recently held 10th Indonesia International Geothermal Convention and Exhibition at Jakarta Convention Center. EDC’s director for Indonesia Raymundo Jarque; country head and president director Delas Pontolumiu; and regulatory head for Indonesia Sutarwo attended the ceremony.PhotoGRAPH courtesy of EDC.

Published on:

02 Oct 2024, 20:03

Energy Development Corp. (EDC), the renewable energy arm of Lopez-led First Gen Corp., has launched another attempt to explore geothermal opportunities abroad, this time in Indonesia.

The company said on Tuesday that it secured surface exploration and drilling rights, known as the preliminary survey assignments plus exploration (PSPE), for two greenfield geothermal projects in Indonesia.

Last month, Indonesia’s Ministry of Energy and Mineral Resources awarded EDC the PSPE for the Koto Sani Tanjung Bingkung and Bora Pulu geothermal projects.

Joeffrey Caranto, EDC’s head of Business Development–International, received the concession awards at an event attended by Indonesian President Joko Widodo, who emphasized the significance of geothermal energy in Indonesia’s energy transition.

“This achievement marks a significant milestone in realizing EDC’s mission to forge collaborative pathways to a decarbonized and regenerative future, not only in the Philippines but in the region as well and beyond,” Caranto said.

Growth strategy

He added that the move aligns with EDC’s growth strategy as part of First Gen’s target to build a 13,000-megawatt low-carbon energy portfolio by 2030, with 9,000 megawatts coming from renewable sources.

Previously, EDC discontinued its geothermal exploration in Peru last year, citing “political and market factors,” despite earlier plans to continue geothermal projects in Peru, Chile and Indonesia.

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