PT FirstGen Geothermal Indonesia, a subsidiary of Lopez-led Energy Development Corp. (EDC), and PT DSSR Daya Mas Sakti (DSSR), a subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA), which is part of the Sinar Mas Group, have finalized a strategic partnership to develop a geothermal energy portfolio in Indonesia.
The companies signed a shareholders’ agreement to formalize the joint venture, which will focus on developing and managing geothermal resources with a combined potential of 440 megawatts (MW) across six strategic fields. These fields are located in West Java, Flores, Jambi, West Sumatra and Central Sulawesi.
This follows a partnership agreement the two parties signed in August 2025, which aimed to facilitate the transfer of global expertise and enhance domestic capacity to unlock Indonesia’s vast geothermal potential.
Indonesia holds around 40 percent of the world’s geothermal reserves, equivalent to 24 gigawatts, but only about 10 percent has been developed.
“Our joint venture with Sinar Mas will allow us to jointly explore and develop geothermal projects in Indonesia,” said EDC president and chief operating officer Jerome Cainglet.
“We believe our target sites have a potential to generate 440 MW of clean baseload power, with exploration drilling in some of the sites planned to start by next year,” he said.
EDC, the geothermal arm of First Gen Corp., one of the Philippines’ biggest power producers, is bringing nearly five decades of geothermal experience and expertise to the collaboration.
“The Philippines and Indonesia are the key markets that we are focused on at the moment,” Cainglet said.
“We are bringing close to 50 years of geothermal experience and expertise to Indonesia. At the same time, we know that there is also a lot that we can learn there, which we may use in the Philippines as we continue to expand our geothermal base in the country in full support of the DOE’s call for more geothermal development here,” he said.
The partnership between PT FirstGen Geothermal Indonesia and PT DSSR Daya Mas Sakti is aligned with the Indonesian government’s strategy to accelerate the energy transition, expand the share of baseload renewable energy and achieve the nation’s Net Zero Emissions target by 2060.
DSSA, founded in 1996, is a leading Indonesian energy and infrastructure company that operates in multiple business segments including mining, renewable energy, technology, chemicals and investments.
The companies share a vision of contributing to “Golden Indonesia 2045,” aiming to build a resilient, sovereign, and sustainable nation.
