Energy Development Corporation (EDC), the all-renewable energy arm of Lopez-led First Gen, 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 held last September 18-20, 2024 at Jakarta Convention Center.
"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-megawatt (MW) low-carbon energy portfolio of First Gen targeted by 2030, 9,000 MW of which will be from renewable energy.
EDC's Head of Business Development International, Joeffrey Caranto, received the awards for two new greenfield geothermal concessions in Indonesia from Minister of Energy and Mineral Resource, Mr. Bahlil Lahadalia, at the 10th Indonesia International Geothermal Convention & Exhibition. Indonesian President Joko Widodo graced the event in recognition of geothermal energy's role in meeting their country's energy transition targets.
About the Energy Development Corporation
EDC is First Gen's 100% RE company and the largest pure renewable energy company in the Philippines. It operates 1,169.85 MW of geothermal, 150 MW of wind, 132 MW of hydroelectric power, and 12 MW of solar power plants for a total of 1,484.5 MW of clean and renewable energy. Recognized as a world leader in geothermal technology, the Company operates in various locations in the Philippines, including in Bicol, Leyte, Negros Island, and Mindanao. https://www.energy.com.ph
