World-class knowledge combines with experience in a new joint venture announced yesterday between Energy Development Corp. (EDC), through its subsidiary, PT FirstGen Geothermal Indonesia, and PT DSSR Daya Mas Sakti, a subsidiary of Indonesian firm, PT Dian Swastatika Sentosa Tbk.
In a statement on Wednesday, the parties declared that the joint venture will focus on the development and management of geothermal resources in Indonesia with a combined potential of approximately 440 megawatts (MW), across six strategic fields located in West Java, Flores, Jambi, West Sumatra, and Central Sulawesi.
Indonesia holds around 40 percent of the world’s geothermal reserves, equivalent to 24,000 MW, but only about 10 percent has been developed and utilized.
“This agreement goes beyond investment,” Lokita Prasetya, PT DSSR Daya Mas Sakti president and director and concurrent PT Dian Swastatika Sentosa Tbk vice president and director, said. “It is a strategic collaboration to bring world-class knowledge and best practices from EDC to Indonesia.
He added that the objective 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,” he said.
Francis Giles Puno, EDC vice-chairman and chief executive officer, elaborated that the company’s “decades of experience” in harnessing geothermal energy in the Philippines, will come into play in the partnership with the Indonesian firm.
“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,” Puno said.
PT DSSR Daya Mas Sakti is an indirect subsidiary of PT Dian Swastatika Sentosa Tbk, which is engaged
in the geothermal energy development business. PT Dian Swastatika Sentosa Tbk is a leading energy and infrastructure company in Indonesia.
EDC’s current over 1,100 MW geothermal portfolio comprises 80 percent of the country’s total installed geothermal capacity, making the Philippines the third largest geothermal energy producer in the world following the United States and Indonesia in the first and second spots.
