EDC Pays PSALM; Assumes Operations of Tongonan & Palinpinon Geothermal Plants
Geothermal leader Energy Development Corporation (EDC) assumed operations of the 112.5-MW Tongonan 1 and 192.5-MW Palinpinon geothermal power plants on October 23 after paying PSALM P3.9 billion representing 40 percent of the purchase price and $7 million for the purchase orders, rental, option price, performance security deposit on land lease, and industrial all-risks insurance policy […]