Press Release
PT DSSR Daya Mas Sakti and FirstGen Geothermal Indonesia Form Strategic Partnership to Power Indonesia’s Clean Energy Transition
Jakarta, August 27, 2025 – PT DSSR Daya Mas Sakti (“DSSR”), a subsidiary of PT Dian Swastatika Sentosa Tbk (“DSSA”) part of Sinar Mas, has entered into an agreement to establish a joint venture with PT FirstGen Geothermal Indonesia, a subsidiary of Energy Development Corporation ("EDC”), part of First Gen Corporation (“First Gen”). EDC is the largest renewable energy producer in the Philippines.
The agreement marks the beginning of a collaboration aimed at transferring global expertise, enhancing domestic capacity, and unlocking Indonesia’s vast geothermal potential in support of the country’s energy transition agenda.
Indonesia holds around 40 percent of the world’s geothermal reserves, equivalent to 24 gigawatts, but only about 10 percent has been developed. Through this partnership, PT DSSR Daya Mas Sakti and PT FirstGen Geothermal Indonesia aim to accelerate the development of geothermal resources that will contribute to national energy security and provide a sustainable source of clean power.
The joint venture will focus on the development and management of geothermal resources with a combined potential of approximately 440 megawatts, across six strategic fields located in West Java, Flores, Jambi, West Sumatra, and Central Sulawesi.
“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 and Vice President Director of PT Dian Swastatika Sentosa Tbk.
Reinforcing this goal, EDC through PT FirstGen Geothermal Indonesia emphasized that the partnership reflects a shared mission to advance Indonesia’s energy transition. Recognized as the largest vertically integrated geothermal company globally, the collaboration provides EDC an opportunity to apply its global expertise in geothermal development to strengthen Indonesia’s renewable energy capacity and contribute to a cleaner, more sustainable energy future.
“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.
This collaboration is aligned with the Government of Indonesia’s strategy to accelerate the country’s energy transition, expand the share of renewable energy, and achieve the nation’s net zero emission target by 2060. For PT DSSR Daya Mas Sakti and PT FirstGen Geothermal Indonesia, the partnership is also a demonstration of dedication to deliver clean and reliable power, to strengthen Indonesia’s renewable energy capacity, and to create long-term value for communities and the economy. Beyond developing projects, this joint venture embodies a shared vision of contributing to Golden Indonesia 2045—building a resilient, sovereign, and sustainable nation for future generations.
About PT DSSR Daya Mas Sakti and PT Dian Swastatika Sentosa Tbk
PT DSSR Daya Mas Sakti is an indirect subsidiary of DSSA engaged in the geothermal energy development business.
Founded in 1996, DSSA is a leading energy and infrastructure company in Indonesia and part of the Sinar Mas. DSSA operates in multiple business segments including mining, renewable energy, technology, chemicals, and investments. DSSA and its subsidiaries offer a wide range of products and services—from coal and chemicals to pay TV, internet services, and data centers. Through strategic investments and business expansion, DSSA aims to deliver long-term value while fostering sustainable growth.
About First Gen Corporation and Energy Development Corporation
First Gen Corporation is a pioneering power producer based in the Philippines. In the 1990s it built and operated the country’s first power plants that run on natural gas, and in 2007 it acquired EDC, the world’s largest vertically integrated geothermal power producer. Aside from natural gas and geothermal, First Gen is recognized for its experience and expertise in operating a diverse portfolio of power platforms including hydro, wind, and solar, which have made significant contributions to the Philippines’ energy security and its efforts to transition to renewable energy.
EDC has, through decades of experience, gained global recognition as a pioneer in geothermal energy development and operations with commitment not only to deliver clean, reliable power but also to advance environmental stewardship and sustainable development.
Media Contact:
Marissa Anugrah
Head of Corporate Communications
PT Dian Swastatika Sentosa Tbk
Ricky Carandang
Head of Corporate Communications
First Gen Corporation