EDC releases RP’s first GRI-checked sustainability report
Geothermal leader Energy Development Corporation (EDC) has officially put the Philippines on the global sustainability map with the launch of VALUES @ work, its 2010 integrated annual and sustainability report (IASR) that is also the first report of a Philippine company to be validated by the Global Reporting Initiative (GRI) organization in Amsterdam. “Beyond the usual annual report, […]
EDC Gets Gold for Exemplary Corporate Governance
The Energy Development Corporation (EDC), the country’s biggest producer of geothermal power, was again recognized by the Institute of Corporate Directors (ICD) with a Gold Award for exemplary corporate governance practices. EDC, led by its President and COO Richard B. Tantoco, received the Gold Award in the 2010 Corporate Governance Scorecard for publicly-listed companies during the awarding […]
EDC posts P1.45 billion net income for Q1
Energy Development Corporation (EDC), the country’s leading producer of geothermal energy, reported a net income of P1.45 billion for the first quarter of the year, down by 61.4 percent from the P3.77 billion posted for the same period last year. Core net income also declined by 61 percent to P1.23 billion from P3.16 billion. […]
DENR taps EDC for National Greening Program
Geothermal leader Energy Development Corporation (EDC) and the Department of Environment and Natural Resources (DENR) are joining forces and expertise in the implementation of the government’s National Greening Program (NGP). EDC’s landmark greening project called BINHI has been selected as one of the strategic programs under the NGP. Environment Secretary Ramon Paje and EDC […]
EDC reports a 31 percent increase in 2010 net income
Energy Development Corporation (EDC), the country’s leading producer of geothermal energy, posted a net income of Php4.4 billion, up by 31 percent from the Php3.4 billion reported in 2009. The increase is primarily attributable to the full year electricity revenues from its power generation subsidiary Green Core Geothermal Inc. (GCGI) which operates the Tongonan and […]
INTERNATIONAL WORKSHOP ON MINERAL SCALING IN GEOTHERMAL ENVIRONMENT
The Philippines is set to host the “International Workshop on Mineral Scaling in Geothermal Environment” at the Intercontinental Hotel Manila on 25-27 May 2011. The 2-day workshop will focus on silica, calcite, anhydrite, clays, sulphides and metal scaling and related problems in geothermal wells and pipelines; sessions will be spearheaded and chaired by international experts […]
EDC bags 2 Anvils for outstanding PR tools
Geothermal leader Energy Development Corporation (EDC) bagged the Anvil Award of Excellence for Master of Green Power Communication Program and the Anvil Award of Merit for Sustain via Renew, EDC’s integrated annual and sustainability report. The Master of Green Power Communication Program was cited for successfully communicating its creative portfolio of services, sustainability report, and […]
EDC unit seals 7 new power supply deals with Visayas electric cooperatives
Green Core Geothermal, Inc. (GCGI), a subsidiary of geothermal leader Energy Development Corporation (EDC), sealed seven new long-term power supply contracts with electric cooperatives in Leyte and Negros islands to supply 58 MW of power. GCGI signed a 10-year power supply contract with the Negros Oriental II Electric Cooperative, Inc. (NORECO II) for 25 […]
EDC subsidiary pays PHP1.28 billion for Bacman power plants
Bacman Geothermal, Inc. (BGI), a wholly owned subsidiary of geothermal leader Energy Development Corporation (EDC), has achieved closing on the 150-MW Bacman geothermal power plant acquisition after remitting to PSALM on September 3 the sum of PhP1,279,725,000 representing full payment of the purchase price for the power facilities. The turnover followed BGI’s submission of the […]
EDC H1 net income soars 113.7% to PhP5.74 billion
Combined power plant operations continue to boost financial performance of geothermal leader Energy Development Corporation (EDC) as it posted a 113.7 percent increase in its income for the first six months of the year. The company earned PhP5.74 billion for the first half of 2010, more than double the PhP2.69 billion registered for the same […]