{"id":329762,"date":"2024-10-04T00:50:24","date_gmt":"2024-10-03T16:50:24","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329762"},"modified":"2024-10-04T00:50:27","modified_gmt":"2024-10-03T16:50:27","slug":"trade-the-news-edc-secures-two-geothermal-concessions-in-indonesia","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-edc-secures-two-geothermal-concessions-in-indonesia\/","title":{"rendered":"Trade the News: FGEN&#8217;s EDC secures two geothermal concessions in Indonesia"},"content":{"rendered":"\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Potential Impact of this News<\/strong><\/td><td><strong>POSITIVE on the stock price<\/strong><\/td><\/tr><tr><td><strong>Company<\/strong><\/td><td>First Gen Corp.<\/td><\/tr><tr><td><strong>Stock Code<\/strong><\/td><td>FGEN<\/td><\/tr><tr><td><strong>Long-term Recommendation on the Stock<\/strong><\/td><td>Buy<\/td><\/tr><tr><td><strong>1-Year Target Price<\/strong><\/td><td>PHP 29.12<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Energy Development Corp. (EDC), the renewable energy arm of Lopez-led First Gen Corp. (FGEN), has obtained rights to explore and drill for two greenfield geothermal projects in Indonesia, the company said on Wednesday.<\/p>\n\n\n\n<p>Indonesia\u2019s Ministry of Energy and Mineral Resources awarded to EDC the preliminary survey assignments plus exploration for the Koto Sani Tanjung Bingkung and Bora Pulu geothermal projects, the company said in a statement.<\/p>\n\n\n\n<p>Each of the Koto Sani Tanjung Bingkung and Bora Pulu geothermal areas has an estimated potential capacity of 40 megawatts (MW) and both would require a total investment of $456 million.<\/p>\n\n\n\n<p>\u201cThis achievement marks a significant milestone in realizing EDC\u2019s mission to forge collaborative pathways to a decarbonized and regenerative future, not only in the Philippines but in the region as well and beyond,\u201d said Jeff Aban Caranto, EDC\u2019s head of business development-international.<\/p>\n\n\n\n<p>EDC said that the development aligns with its growth strategy as part of the 13,000-MW low-carbon energy portfolio of First Gen targeted by 2030. Of the total, 9,000 MW will be from renewable energy.<\/p>\n\n\n\n<p>Indonesia is the world\u2019s second-largest geothermal producer with a capacity of more than two gigawatts (GW), according to the Asian Development Bank.<\/p>\n\n\n\n<p><em>(News Source: <a href=\"https:\/\/www.bworldonline.com\/corporate\/2024\/10\/03\/625470\/edc-to-explore-geothermal-fields-in-indonesia\/\">Business World<\/a>)<\/em><\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p style=\"font-size:16px\"><em><em><em>This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about <a href=\"https:\/\/www.pinoyinvestor.com\/smartinvestor\/our-partner-brokers\/\">our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329762","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329762","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329762"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329762\/revisions"}],"predecessor-version":[{"id":329764,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329762\/revisions\/329764"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}