Philippines, Indonesia:

EDC Firms up Indonesia Geothermal Venture (Manila Standard Today)

Philippines company Energy Development Corp., is acquiring an initial 25-percent stake in a joint venture that will build four power plants with a combined capacity of 220 MWe in neighboring Indonesia.

First Philippine Holdings Corp. chief finance officer Francis Giles Puno said in an interview at the sidelines of the annual stockholders’ meeting of FPHC that EDC might finalize the geothermal venture in Indonesia by the second half of the year.

EDC in joint venture with an Indonesian concession holder will build four units with a generation capacity of 55 MWe each in Indonesia at an estimated cost of over $1 billion.

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