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.
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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 realising EDC’s mission to forge collaborative pathways to a decarbonised 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.
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