CNN’s Eco Solutions is featuring EDC and geothermal energy, filmed in Leyte, site of the world’s largest wet steam field. Leyte Geothermal Production Field Resident VP Manuel Paete appears in the 2-minuter feature. Pres. and COO Richard Tantoco provides a commentary. Catch the episode which runs for the next two weeks at CNN. It was aired last February 25 in a segment of the news program “World Report” anchored by Kristie Lu Stout.
EDC’s geothermal business was first featured by CNN in 2007.
Click on the link below.
Philippines taps geothermal potential — CNN.com video
Geothermal leader Energy Development Corporation (EDC) declared commercial operations for Units 1 & 2 of its Bacman Geothermal Project effective February 25, 2013.
“For the past 3-4 weeks, Bacman Units 1 & 2 have been generating energy during their testing and reliability runs. Both 55 MW units have been operating at full load since January 27 and February 11, respectively,” EDC President and COO Richard B. Tantoco said.
Located in the towns of Bacon, Sorsogon Province and Manito, Albay Province, the Bacman Geothermal Power Plants consists of: Bacman I – 2 X 55 MW and Bacman II – 2 X 20 MW. In May 2010, EDC submitted the winning bid at US$28.25 million for the PSALM’s auction of the 150 MW Bacon-Manito Geothermal Plants — all utilizing geothermal steam supplied by EDC.
“Declaring commercial operations marks the full integration of EDC’s operations for the 2 X 55MW Bacman I Power Plant. We are very happy to have the plant back in service despite all the technical challenges we have encountered along the way. It is about time the plant and the Bacman steam resource serve the Filipino consumers again,” Tantoco added.
Energy Development Corporation (EDC), the country’s leading producer of geothermal energy, posted an 89 percent jump in consolidated recurring net income in 2012, up to Php 9.89 billion from the Php 5.24 billion in 2011.
Energy Development Corporation (EDC), the country’s leading producer of geothermal energy, posted a consolidated recurring net income of Php 9.89 billion in 2012, up 89 percent jump from Php 5.24 billion in 2011.
“Our significant investments in the rehabilitation of our recent power plant acquisitions drove the Company’s growth in Net Income in 2012,” EDC President and COO Richard Tantoco said. “Our patient efforts are finally bearing fruit,” he added.
For 2012, EDC’s full year electricity sales increased by 16% to Php28.4 billion from the Php24.5 billion generated the previous year. Higher contracted revenues by wholly owned subsidiaries Green Core Geothermal, Inc. (GCGI), and ancillary service sales of First Gen Hydro Power Corp. (FGHPC) were the main sources for significant increase.
EDC remains the largest producer of geothermal energy in the Philippines accounting for 62 percent of the total country installed geothermal capacity. It has also obtained and is developing geothermal concessions in Chile and Peru.
Energy Development Corporation (EDC) is recognized for its outstanding health and safety record in its project sites by the Safety and Health Association of the Philippine Energy Sector (SHAPES) and the Department of Energy (DOE). Receiving the awards are (from left): Lito Hatoc of BGI, Jun Balagon of TGPP, Patrick Nuique (receiving for MGPF), Cesar Bersamina of MGPP, Erwin Perez of Upper Mahiao PP, Roy Judilla of Mahanagdong PP, and Rovel Bactol (receiving for NNGPP).
Geothermal leader Energy Development Corporation received 8 Corporate Excellence Safety awards from the Safety and Health Association of the Philippine Energy Sector (SHAPES) and the Department of Energy (DOE). The awards were given during the 8th SHAPES Safety Convention held recently at the Traders Hotel in Manila.
The eight safety awards are for EDC’s geothermal steamfield and power plants as well as for its hydroelectric power plant, namely the Mt. Apo geothermal production field in North Cotabato, the Tongonan, Upper Mahiao and Mahanagdong geothermal power plants in Leyte, Northern Negros geothermal power plant in Negros Occidental, Mt. Apo geothermal power plant in North Cotabato, Bacman geothermal power plant in Sorsogon, and Pantabangan-Masiway hydroelectric power plant in Nueva Ecija.
EDC has been consistently recognized by SHAPES and DOE for its safety performance since 2005. Corporate Excellence Safety awards are given to companies in the energy sector that have shown exceptional performance in operational health safety. To qualify for an award, the company must have recorded at least 3 years or 3 million man hours with no Lost Time Accident (LTA) for both its employees and contractors. The company should also have no outstanding safety violations or cases based on DOE’s Renewable Energy Safety, Health and Environment Rules and Regulations (RESHERR), as well as the Occupational Safety and Health Standard (OSHS) of the Department of Labor and Employment (DOLE).
EDC and GCGI projects get DENR seal of approval. Energy Development Corporation (EDC) and its subsidiary Green Core Geothermal, Inc. (GCGI) received the Philippine Environment Partnership Program (PEPP) Seal of Approval from the Department of Environment and Natural Resources (DENR) for the Leyte Geothermal Production Field (LGPF) and power plants, Tongonan 1 power plant, and the Mindanao Geothermal Production Field (MGPF) and power plants. EDC and GCGI were recognized for the implementation of various programs on pollution prevention and control, and environmental protection and management in its operations in the two projects sites. EDC is the world’s largest integrated geothermal company, and the Philippines’ largest producer of renewable energy. Receiving the awards are (left to right): LGPF pollution control officer Liza Tumanda, LGPF environmental head Leonita Sabando, EDC environmental manager Regina Pascual, MGPF environmental head Robert Gajo, DENR Region 12 Regional Director Socorro Lanto, DENR Environmental Management Bureau Director Atty Juan Miguel Cuna, EDC SVP Agnes de Jesus, LGPF pollution control officer Donna Velasquez, GCGI pollution control officer Jane Penaranda, and MGPF pollution control officer Willie Loyola.