business

Barito Offers Over $5 Billion to Acquire Energy Development Corp.

14 Temmuz 2026Bloomberg

Indonesia’s PT Barito Renewables Energy has proposed a takeover bid exceeding $5 billion for Energy Development Corp., a move aimed at expanding its operations in the Philippines. This acquisition reflects Barito's strategic interest in the geothermal energy sector, which is gaining traction in the region.
The deal, if successful, could significantly enhance Barito's market presence and operational capacity in renewable energy.
The geothermal energy sector is becoming increasingly important in the Philippines as the country seeks to diversify its energy sources and reduce reliance on fossil fuels. Barito's interest in EDC aligns with global trends toward sustainable energy solutions.
Barito's bid for EDC underscores a growing trend among Indonesian companies to invest in renewable energy assets abroad, particularly in neighboring countries like the Philippines. This move may not only strengthen Barito's portfolio but also position it as a key player in the Southeast Asian renewable energy market.

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This article is based on information from sources familiar with the matter and has not been independently verified.

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