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Manila Bulletin devider Business devider EDC secures geothermal exploration permit in Indonesia

EDC secures geothermal exploration permit in Indonesia

Published Oct 2, 2024 06:52 am

First Gen Corporation’s all-renewable energy arm, Energy Development Corp. (EDC), has received preliminary survey assignments and exploration (PSPE) for two greenfield geothermal projects in Indonesia.

During the 10th Indonesia International Geothermal Convention, the EDC said it would have the right to explore and drill geothermal energy developments for its two new projects, Koto Sani Tanjung Bingkung and Bora Pulu.

According to EDC, this award aligns with First Gen’s strategy to achieve a 13,000 megawatt (MW) low-carbon energy portfolio by 2030, of which 9,000 would be generated by renewable energy (RE).

Joeffrey Caranto, EDC head of business development international, received the grant and stated that it would benefit the Philippines and the region.

“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,” he said.

The EDC earlier disclosed that it is looking into Mindanao and Luzon for more clean energy development opportunities to achieve its RE goal by 2030.

At present, the RE firm operates geothermal, wind, solar, and hydropower sources with a total capacity of around 1,500 MW.

The EDC is also planning to integrate a Battery Energy Storage System (BESS) to boost its geothermal facilities such as in Bicol, Leyte, and Negros.

With more than 40 years of the company’s sustainable energy practices, EDC provides around 61 percent of the Philippines’ overall installed geothermal capacity.

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First Gen First Gen Corporation Energy Development Corp.
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