EDC secures two geothermal concessions in Indonesia
Philippine-based Energy Development Corporation has been awarded exploration and drilling rights for the Koto Sani and Bora Pulu geothermal sites in Indonesia.
Philippine-based geothermal developer and operator Energy Development Corporation (EDC), has been granted surface exploration and drilling rights also known as the preliminary survey assignments plus exploration (PSPE) for two greenfield geothermal projects in Indonesia.
Indonesia’s Ministry of Energy and Mineral Resource awarded the PSPE for the Koto Sani Tanjung Bingkung and Bora Pulu geothermal projects at the 10th Indonesia International Geothermal Convention and Exhibition (IIGCE) held last September 18-20, 2024 at Jakarta Convention Center. EDC was one of five companies that were awarded new geothermal concessions as announced at the event.
“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,” said Joeffrey Caranto, EDC’s Head of Business Development–International.
Caranto received the concession awards at the event, where Indonesian President Joko Widodo was also present to underscore the importance of geothermal energy in the country’s energy transition targets.
According to Caranto, the move aligns with EDC’s growth strategy as part of the 13,000-MW low-carbon energy portfolio of First Gen targeted by 2030, 9,000 MW of which will be from renewable energy. EDC is the all-renewable energy arm of Lopez-led First Gen.
EDC remains active in the exploration of geothermal greenfield sites in the Philippines, also having secured two licenses locally in late November. The company has set a target to put four new geothermal power facilities online in 2024, the first of which (the 28.9-MW Palayan Bayan binary power plant) was inaugurated in July.
Source: Email correspondence
