Philippines’ First Gen, Sinar Mas To Develop Over $2 Billion Of Geothermal Projects In Indonesia - Forbes
Philippines’ First Gen, Sinar Mas To Develop Over $2 Billion Of Geothermal Projects In Indonesia - Forbes Published December 22, 2025 Philippines’ First Gen and Sinar Mas to Invest Over $2 Billion in Geothermal Projects in Indonesia First Gen Corporation, a leading energy company in the Philippines, has announced a significant partnership with Indonesia's Sinar Mas Group to develop geothermal energy projects in Indonesia. The collaboration is set to involve an investment exceeding $2 billion, marking a substantial commitment to renewable energy in the region. Both companies have signed a joint venture agreement to explore and develop geothermal resources, which are abundant in Indonesia. This partnership aims to tap into Indonesia's vast geothermal potential, which is among the largest in the world, with an estimated capacity of over 29,000 megawatts (MW). Currently, Indonesia ranks second globally in geothermal energy production, trailing only the United States. The agree...