EDC-led consortium eyes Indon geothermal

Lopez-led First Gen Corp. is expanding its regional clean energy portfolio through its unit, Energy Development Corp. (EDC), which is targeting Indonesia’s vast geothermal reserves under a joint venture with PT DSSR Daya Mas Sakti (DSSR), a subsidiary of PT Dian Swastatika Sentosa Tbk under Sinar Mas.

In a statement on Wednesday, EDC said the consortium will develop and manage geothermal fields with a combined potential of about 440 megawatts (MW) across West Java, Flores, Jambi, West Sumatra and Central Sulawesi.

“EDC has decades of experience in harnessing geothermal energy in the Philippines, and we are proud to share this expertise with Indonesia through our partnership with DSSR,” said Francis Giles B. Puno, vice chairman and CEO of EDC, and president and COO of FGEN.

“By combining EDC’s global capabilities with DSSR’s strong local presence, this joint venture will not only develop projects but also build capacity and transfer knowledge that will leave a lasting impact on Indonesia’s renewable energy sector,” he added.

Clean energy push

For Lokita Prasetya, president of DSSR, the collaboration is intended to strengthen Indonesia’s capacity in geothermal development and fully harness the nation’s natural potential for clean energy.

He added that the partnership seeks to generate lasting value for communities, the economy, and the environment.

Indonesia holds about 40 percent of the world’s geothermal resources, equivalent to 24 gigawatts, though only 10 percent has been developed.

Locally, EDC operates nearly 1,400 MW of renewable energy, making up 17 percent of the country’s total. Its geothermal capacity of over 1,000 MW accounts for 56 percent of the national total, placing the country as the world’s third-largest geothermal producer.