Birth of The Firebringer
EDC was founded under the Philippine National Oil Company (PNOC).
Mandate: Explore, develop, produce, generate and market indigenous energy sources and lessen the country’s dependence on imported fuel.
EDC energized a 3-MW plant which generated electricity for Ormoc City and nearby towns.
EDC established the beginnings of its environmental group with the start of its Environmental Impact Assessment Group to set the pace in environmental compliance for the energy sector.
Rise of The Geothermal Power
The watershed areas of Tongonan and Palinpinon declared as geothermal reservations.
The Philippines became the second largest producer of geothermal power in the world with the commissioning of the Tongonan 1 and Palinpinon 1 each with 112.5 MW installed capacity, adding to the more than 400 MW existing installed capacity. EDC added the Watershed Management group in its environmental management policy.
New Era of Power Generation
110 MW Bacman 1 was commissioned. Power from Palinpinon 1 was exported to Aklan, Iloilo, Capiz and Antique through submarine cables across the Guimaras Strait.
The Mt. Apo project began after it passed through a two-year comprehensive environmental and social review.
The Outstanding Corporate Environmental Program was awarded by the Personnel Management Association of the Philippines (PMAP).
EDC issued its first Eurobond and was successful in raising $90 million which was used to finance the development of the Mindanao 1 project.
Palinpinon II was commissioned, adding another 80MW to supply power to Cebu. Mt. Apo project was awarded with the Gawad Kalikasan Award for Most Outstanding Achievement in Environmental Impact Assessment.
Commercial operation of the 200 MW Leyte-Cebu plants marked the company’s entry into the power generation business through the Build-Operate-Transfer (BOT) scheme.
PNOC EDC was awarded the Model for Environment Sustainability by the DENR and the United Nations Development Program (UNDP), and the Model for Greening by the National Economic and Development Authority (NEDA).
The 440 MW Leyte-Luzon plants in Leyte, the 40 MW Bacman II plant in Bicol and the 52 MW Mindanao 1 geothermal production field in North Cotabato were commissioned.
The Mindanao II geothermal production field was commissioned, which added another 54MW for the Mindanao grid.
Dawn of the Renewable Energy
EDC projects generated a total of 1,149.4 MW, which accounted for 60% of the country’s total geothermal capacity.
PNOC EDC intensified its exploration of other potential wind power resources all over the country.
Received the Excellence in Ecology and Economy (E3) Award from the Philippine Chamber of Commerce and Industry (PCCI).
EDC launched its IPO in the Philippine Stock Exchange. With the handover of the 130-MW Upper Mahiao Power Plant,the company became a power plant operator. EDC receives citation from the Geothermal Union on the occasion of the Centenary of Italy’s Geothermal Industry
The 49 MW Northern Negros Geothermal Production Filed was commissioned to supply power to the Western Visayas region. It became the first power project to operate as a merchant plant under the new electricity environment.Handover of the Malitbog, Mahangdong and Ormat Optimization Power Plants, vertically integrating EDC’s operations in Leyte.
EDC receives the Bull Run Award from the Philippine Stock Exchange for launching the biggest IPO of 2006.
On November 29, 2007, EDC became a private corporation under Red Vulcan Holdings Corporation after the successful sale of 60% of its controlling stakes.
Enactment of the Renewable Energy Act on December 16, 2008. In line with EDC’s new vision, the law encourages the development and utilization of renewable energy resources as effective tools to prevent or reduce harmful emissions.
EDC wins the 2008 Grand Anvil Award for its Technology in Harmony with Environment campaign in the Northern Negros Geothermal Power Project.
EDC wins Global Client Leadership Award from International Finance Corporation.