First Gen, Sinar Mas enter joint venture for geothermal development in Indonesia
Federico Lopez of First Gen and EDC, with Frankie Oesman Widjaja of DSSA, marking the partnership for geothermal development in Indonesia (source: First Gen)
Carlo Cariaga
27 Aug 2025
Philippine renewables company First Gen has partnered with a Sinar Mas subsidiary to accelerate development of geothermal projects in Indonesia.
Philippine-based renewable energy company First Gen Corp, through PT First Gen Geothermal Indonesia, has formed a joint venture with PT Dian Swastatika Sentosa Tbk (DSSA) via its subsidiary PT DSSR Daya Mas Sakti (DSSR) to accelerate the development of geothermal projects in Indonesia.
According to the terms of the joint venture, the two partners will work on the development and management of geothermal resources in Indonesia with a combined potential of 440 MW. The projects will span six fields across West Java, Flores, Jambi, West Sumatra, and Central Sulawesi.
First Gen is the parent company of Energy Development Corporation (EDC), a vertically integrated company that owns and operates several geothermal fields in the Philippines. In 2024, EDC was granted surface exploration and drilling rights for two greenfield geothermal sites in Indonesia, namely Koto Sani (West Sumatra) and Bora Pulu (Central Sulawesi), both with potential 40 MW capacity. The company had previously been awarded the rights for the Graho Nyabu concession area in Jambi.
DSSA is a company that specializes in mining, renewable energy, and technology. It is part of Sinar Mas, one of the largest conglomerates in Indonesia with businesses spanning across finance, telecommunications, agriculture, and real estate. DSSA holds exploration rights for the Cipanas and Cisolok sites in West Java, and Nage in East Nusa Tenggara.
The joint venture aims to combine both the global expertise and local presence of the two parties, thus facilitating the progress of their geothermal prospect sites.
“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-chair and CEO of EDC, and President & COO of First Gen.
“This agreement goes beyond investment. It is a strategic collaboration to bring world-class knowledge and best practices from EDC to Indonesia. Our goal is to strengthen national capacity in geothermal development and to fully harness the country’s natural potential for clean energy,” added Lokita Prasetya, president director of DSSR.
Source: InsiderPH
