News

Thursday, November 3, 2016

Notice of Analysts’/Investors’ Briefing

 

Please be advised that the Energy Development Corporation will conduct an earnings call via a dial-in conferencing facility on its YTD 9M 2016 Financial and Operating Results on November 10, 2016 at 3:30 p.m. to 4:30 p.m.

 

Interested parties may refer to the attached invitation. As there may be limited slots available during the conference proper itself, we shall be giving priority to those who have confirmed their participation. 

 

Please click HERE to access the PSE Disclosure with the Invitation and Reply Form.

Thursday, October 27, 2016

EDC’s Tongonan plant is lone recipient of DENR’s Seal of Approval

 

Receiving the PEPP award are Leonita Sabando, head of Environmental Unit and acting Pollution Control Officer for Tongonan plant (third from left) and Regina Pascual, EDC environmental head (fourth from left) .  Photo shows from left to right: DENR PEPP Office Head Michiko Navaluna, ASEC Rommel Abesamis, Leonita Sabando, Regina Pascual, FASPO Director Mr. Domingo, DENR EMB Director Gilbert Gonzales, DENR ASEC Corazon Davis, EMB8 Regional Director Letecia Maceda and World Bank Senior Environmental Engineer Gerry Parco.

 

The 112.5-MW Tongonan geothermal power plant of Energy Development Corporation (EDC) is this year’s lone recipient of the Philippine Environment Partnership Program (PEPP) Seal of Approval given annually by the Department of Environment and Natural Resources (DENR).  This is the 5th time that the Tongonan plant has been recognized by the DENR for exemplary performance in environmental management and protection.

 

The PEPP Seal of Approval is given to industries which strive to go beyond compliance and are driven to improve their performance with competitiveness, image and supply chain requirements.  Nominees undergo a rigid evaluation process that includes validation of documentary requirements and actual site inspection by the regional offices of the Environmental Management Bureau (EMB).

 

The 112.5-MW Tongonan power plant is operated by Green Core Geothermal, Inc. (GCGI), a subsidiary of EDC.

 

Thursday, October 13, 2016

North Luzon cooperatives choose renewable power

Geothermal leader Energy Development Corporation (EDC) signed a Power Supply Agreement (PSA) with Ilocos Norte Electric Cooperative (INEC), Mountain Province Electric Cooperative (MOPRECO), and Kalinga-Apayao Electric Cooperative (KAELCO).  EDC will be supplying up to 53 MW of clean, reliable, and uninterruptible power to the three electric cooperatives starting  December 26, 2016 until December 25,2018.

 

“EDC is working hard to move the renewable energy agenda forward.  We are thankful that more and more customers are giving RE a chance and share our goal of building a low carbon world through clean energy.  As we help improve electricity supply in the region, we also support the region’s goal of economic growth and competitiveness,” EDC President and COO Richard Tantoco said.

 

“Our 236,000 consumers in our franchise areas will benefit from sustainable and reliable power.  With baseload power, our region’s economic growth and competitiveness will further improve.  We are happy with this deal and look forward to a longer partnership with EDC,”   INEC Board President Reynaldo Lazo added.

 

EDC remains the country’s leading producer of geothermal energy with total installed capacity of 1,169 MW in Leyte, Negros Islands, Bicol and North Cotabato.  In keeping with its mission to develop only clean and renewable energy projects, EDC also owns and operates the 150-MW wind farm in Burgos, Ilocos Norte and has 60% equity in the 132-MW Pantabangan-Masiway hydropower plants in Nueva Ecija.