Indonesia’s PT Barito Renewables Energy has made an offer to acquire Energy Development Corp. (EDC), a geothermal company, according to people familiar with the matter and reporting that Barito confirms the bid. The offer is reported to be more than $5 billion, positioning the potential transaction as one of the larger clean-energy deals in Asia in recent years. The companies’ rationale for the proposed takeover centers on expansion into the Philippines and building out geothermal energy capacity. The reports indicate the bid is being pursued through Barito’s efforts to grow its regional footprint, with EDC serving as a strategic target given its geothermal operations. While details such as deal structure, timing, and whether EDC will enter negotiations are not provided in the excerpts, both sources agree on the core elements: Barito’s offer size, EDC as the target, and the stated purpose of expanding in the Philippines. Further information would be needed to confirm the final bid terms and progression of the transaction.