First Gen (EDC) ventures into Indonesia with geothermal investment strategy
South face of Gunung Geder-Pangrango from Sukabumi, West Java, Indonesia (source: commons/ wikimedia, Afrogindahood, CC BY-SA 4.0)
Alexander Richter
24 Sep 2025
First Gen’s EDC to invest USD 80m in Indonesia’s geothermal sector through a JV with Sinar Mas, targeting 440 MW across multiple fields.
First Gen Corporation, through its renewable energy arm Energy Development Corporation (EDC), has announced plans to invest USD 80 million to establish a foothold in Indonesia’s geothermal sector.
The Philippine energy company confirmed it will channel the investment into early-stage development and drilling activities, marking its first overseas geothermal venture. Indonesia holds around 40% of the world’s geothermal reserves but has tapped only a small share of this potential.
Joint venture and project sites
The initiative will be carried out in partnership with Indonesia’s Sinar Mas Group, through subsidiary PT DSSR Daya Mas Sakti. The cooperation covers multiple fields across West Java, West Sumatra, Jambi, Central Sulawesi, and Flores, with a combined target capacity of around 440 MW.
EDC brings decades of operational expertise from the Philippines, while its Indonesian partner will provide local market knowledge and support for permitting and development.
Outlook
Francis Giles Puno, EDC Vice-Chair and CEO, said the collaboration will help accelerate geothermal deployment in Indonesia and build on the company’s strategy to expand its renewable portfolio across Southeast Asia.
Indonesia has set ambitious targets to scale geothermal as part of its energy transition. For EDC, the investment represents both a diversification step and an opportunity to apply its experience from managing one of the world’s largest integrated geothermal portfolios.
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Source: Business Inquirer
