In photo: Federico Lopez, Chairman and CEO of First Gen Corporation and Energy Development Corporation (EDC) receives a memento from Frankie Oesman Widjaja, Chairman of PT Dian Swastatika Sentosa Tbk (DSSA), to mark the partnership between both companies to jointly explore the development of about 400MW of geothermal energy in Indonesia. The agreement was signed last August 26, 2025 in Jakarta, Indonesia.

First Gen Corporation’s renewable energy arm, Energy Development Corporation (EDC), is expanding its geothermal footprint outside the Philippines through a new joint venture in Indonesia with PT DSSR Daya Mas Sakti, a subsidiary of Sinar Mas Group.

The partnership, under PT FirstGen Geothermal Indonesia, will target about 440 megawatts of geothermal capacity across six fields in West Java, Flores, Jambi, West Sumatra, and Central Sulawesi. Indonesia holds around 40 percent of the world’s geothermal reserves, equivalent to 24 gigawatts, though only 10 percent is currently developed.

For EDC, recognized as the world’s largest vertically integrated geothermal company, the venture marks a significant milestone in its international growth strategy while reinforcing its leadership in renewable energy development.

“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. 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,” said Francis Giles B. Puno, Vice-Chairman and CEO of EDC, and President & COO of First Gen.

PT DSSR Daya Mas Sakti executives highlighted that the collaboration aims to build Indonesia’s domestic expertise in geothermal development while supporting the government’s energy transition goals.

“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. Together, we aim to create real value for communities, the economy, and the environment,” said Lokita Prasetya, President Director of PT DSSR Daya Mas Sakti.

The joint venture supports Indonesia’s target of achieving net zero emissions by 2060 and contributes to the government’s “Golden Indonesia 2045” development vision.

As Philippine expertise in geothermal energy expands into Southeast Asia, what role do you think regional partnerships like this will play in accelerating the clean energy transition?

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Photo credit: First Gen