Indonesian billionaire Prajogo Pangestu bids over $5B for Philippines' largest geothermal producer

Prajogo Pangestu, an Indonesian billionaire, has made an unsolicited non-binding takeover offer for Energy Development Corporation, the Philippines' largest geothermal company, in a deal valued at more than $5 billion in equity.

First covered Aug 1, 2026 · 11:29 AM PT · 1 article

Indonesian billionaire Prajogo Pangestu bids over $5B for Philippines' largest geothermal producer — Image via cleantechnica.com

Coverage

5h CleanTechnica Op-Ed: Is Indonesia’s Bid For The Philippines’ Largest Geothermal Company Really About Geothermal? — When news emerged that Indonesian billionaire Prajogo Pangestu made an unsolicited, non-binding takeover offer for Energy Development Corporation (EDC), the…

More coverage from around the web

bilyonaryo.com Too hot to ignore: Piki Lopez weighs Pangestu’s $5B bid for EDC

e.vnexpress.net Indonesia’s 2nd-wealthiest man Prajogo Pangestu to buy Philippines’ largest geothermal company - VnExpress International

forbes.com Indonesian Billionaire Pangestu Prajogo Offers $5 Billion To Buy Philippine Geothermal Company

commstrader.com Indonesian Billionaire Prajogo Pangestu Offers $5 Billion To Buy Philippine Geothermal Company | CommsTrader

rappler.com An Indonesian billionaire wants EDC: The $5-B offer raising the stakes in the Lopez feud

Appeared in: 2026-08-01 (#1)

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