EDC’s Burgos Wind Project secures DOE Certification for Commerciality
Energy Development Corporation (EDC) has been granted the Certificate of Confirmation of Commerciality by the Department of Energy (DOE) for its 87-MW Burgos Wind Project (BWP) in Ilocos Norte. The Certificate of Confirmation WCC-2013- 04-001, which is the first to be issued by the DOE for a wind project in accordance with Section 6 of […]
EDC lists Php7B fixed rate bonds
Photo shows from left to right: EDC CFO & Treasurer Nestor Vasay, EDC Director Francis Giles Puno, EDC Director Francisco Ed. Lim, EDC President & COO Richard Tantoco, Securities & Exchange Commission Director Vicente Graciano Felizmenio, Jr., PDEx Chairman & CEO Vicente Castillo, and PDEx President & COO Cesar Crisol. Photo shows from left to […]
EDC’s wind project in Burgos to boost Ilocos Norte’s development
EDC President and Chief Operating Officer Richard Tantoco (5th from left) leads the groundbreaking ceremony of a $300 million or about P12.3 billion wind power project, located in the town of Burgos, Ilocos Norte. Also in photo are officials of its partner-companies, Vestas and First Balfour, Ilocos Norte provincial officials led by Board Member Mariano Marcos […]
EDC Bags Three Anvil Awards
Geothermal leader Energy Development Corporation (EDC) bagged Anvil awards for its three entries in the recently concluded 48th Anvil Awards. EDC won an Anvil Award of Excellence for its coffeetable book Rafflesia of the Philippines: A Story of Adventure, Appetite, and Affinity. The book was cited for effectively engaging both scientists and laymen with its […]
EDC signs $300M deal for the 87 MW Burgos Wind Project with Vestas of Denmark
Lopez-led Energy Development Corporation (EDC) has signed a deal to commence the construction of its 87-MW wind farm in Burgos, Ilocos Norte and targets to commission the project in 2014. EDC has selected Vestas of Denmark, the world’s largest wind turbine manufacturer, as supplier of the 29 V90-3.0 MW wind turbines. Both contracts contain certain […]
EDC featured in CNN’s Eco Solutions
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 […]
EDC 2012 core net income rises 89% to Php9.89 billion
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,” […]
Bacman Power Plant Units 1 & 2 declares commercial operations
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 […]
EDC 2012 core net income rises 89% to Php9.89 billion
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 garners 8 safety performance awards
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 […]