EDC: Powering infinite possibilities through renewable energy
100% Renewable. Proudly Filipino.
Filipino company Energy Development Corporation (EDC) is the Lopez Group’s global and diversified renewable energy company. With over 40 years of pioneering sustainable practices, it is the Philippines’ leading 100% renewable energy producer with an installed capacity of 1,476.59 MW that accounts for almost 20% of the country’s total installed RE capacity. With geothermal as its primary source of power, EDC’s 1, 181.80 MW provides 61.30% of the country’s total installed geothermal capacity.
Our clean energy portfolio also comprises 150 MW of wind, 132.5 MW of hydroelectric, and 11.99 MW of solar energy.
Our total power generation of 9,111.80 GWh in 2020 is equivalent to over 42% of the country’s 21,608.9 GWh* total generated renewable energy.
We are the world’s largest vertically integrated geothermal energy producer.
EDC has been responsible for putting the Philippines on the map as the third largest geothermal energy producer in the world for over three decades and the acknowledged leader in wet steam field technology. We are the world’s largest vertically integrated geothermal energy company with proven expertise in exploring, harnessing, and sustainably generating power from steam since 1976.
Through our investments and strategic geothermal facilities located in Bicol, Leyte, Negros Island, and Mindanao, combined wind and solar farms in Ilocos Norte, and hydro assets in Nueva Ecija, we supply naturally sourced power to our country’s national grid and bolster our economic growth.
We believe that growth is possible through responsible stewardship.
At the heart of EDC’s business is our vision of a regenerative future manifested through environmental and social programs implemented in every EDC facility that aim to enhance the ecosystem as well as uplift the lives of those in our partner communities.
We strive to be carbon neutral.
In our pursuit to lessen the carbon footprint of our business operations, EDC strives to lower its carbon emissions as it manages its geothermal reservations that comprise almost 1% of our country’s total land area. EDC’s geothermal reservations capture more carbon from the air than they release, absorbing close to five times its own emissions of at least 800,000 tons of carbon dioxide equivalent every year. EDC achieves this by generating green energy, improving our energy efficiency, as well as through our greening programs that contribute to greater carbon sequestration. Read more about it at https://bit.ly/2OEKSb4.
To learn more about the environmental and social impact of EDC’s operations through sustainability, visit here.
*Based on Certificates of Compliance (COC) or Provisional Authorities to Operate (PAO) issued by ERC as of 4 February 2021
Our Mission
To forge collaborative pathways for a decarbonized and regenerative future.
Our Vision
To be the leading global geothermal energy company and key provider of clean, renewable 24/7 energy.
The Lopez Credo and Values
We, as employees of the Lopez group of companies, believe that our primary reason for being is to serve God and the Filipino people.
Thus, we shall always conduct ourselves in a manner that is mindful of the long-term mutual benefit of the Lopez Group, and the various publics we serve.
We will be responsible stewards of all our resources, and conscious of our obligation to present and future generations.
Since 1928, and in the years and generations to follow, our commitment to the distinctive Lopez values will not change as we remain committed to serve our stakeholders.
In our service to the Filipino people, we will be guided by the following distinct Lopez Values:
- A Pioneering Entrepreneurial Spirit
- Business Excellence
- Unity
- Nationalism
- Social Justice
- Integrity
- Employee Welfare and Wellness
We know from generations of experience that it is by living according to these values that a company can be built to last.
Our Way to Play
We promote a regenerative society by increasing access to reliable renewable energy through purposeful innovation and proactive partnerships.Our Capability System:
- Sustainable Generation – expansive understanding and management of geothermal resource to develop and optimize resilient assets
- Purposeful Innovation – systematic identification and deployment of groundbreaking ideas that improve performance and customer satisfaction
- Committed Stakeholder Ecosystem – integrated approach in building mutually beneficial relationships to progress our regenerative agenda
- Transformative Integration – Deft integration of targeted acquisitions that increase corporate value
- Organizational Agility – Delivery of fast, customer centric solutions through self-organized teams who can pivot and prioritize
Our Purpose
We recognize that our planet’s life support systems and social institutions are now at a breaking point. Unbridled consumption and primacy of bottom-line growth are at the root of the climate crisis, our alienation from nature, and the profound social and economic divisions, that have become existential threats to humanity today.
Overcoming all of these challenges will require paradigm shifts in the ways that we think, live, and do business. It is now clear that pursuing sustainability that seeks only to do less harm is no longer good enough.
Instead, we need to create symbiotic, mutually beneficial relationships with nature and society that benefit more than just shareholders. Businesses today must urgently become a regenerative force that elevates everything that they touch – customers, employees, suppliers, contractors, the environment, communities, and investors.
The transformation cannot be done by entities working alone. We are mindful that we exist within highly diverse and nested systems, and that we must all play unique, reciprocal, and synchronized roles in a world that needs to be healed.
Our collective success will be measured by how quickly we can decouple economic and social prosperity from the destruction of our planet’s life support systems.
We choose this path because it is the only way to a destination where everyone has the opportunity to thrive and prosper on a healthy planet. We choose this path because we believe it is the only way to create lasting value for all stakeholders and not just shareholders. We choose this path because it is inseparable from the Lopez Values that have, and always will, define us.
Our Chosen Path
We take the path that puts the welfare of present and future generations as our foremost concern, choosing to use our heritage and expertise as a leading geothermal energy provider to fulfill our duty to co-create a regenerative society.
We strive to deepen our relationships with customers. Understanding their need for dependable and affordable renewable energy, we purposefully innovate to improve our services to provide the best possible customer experience.
We embark to broaden the markets we serve. Our four decades of advancing renewable energy in the Philippines creates the impetus to expand globally and accelerate decarbonization.
We build trusted partnerships with public and private stakeholders to shape a regenerative society. We commit to think, live, and do business in a manner that enables nature to flourish and humanity to prosper alongside an economy that advances.
We foster a culture that cares deeply for the wellbeing of our people. We empower people to reach their full potential in a workplace where accountability, performance orientation, and collaboration is the norm.
Our History
1976
- Energy Development Corporation is created under the umbrella organization of the Philippine National Oil Company with the mandate to explore, delineate and develop indigenous resources in the country
1977
- EDC energized a 3-MW plant which generated electricity for Ormoc City in Visayas region.
1978
- EDC establishes its Environmental Management Group and set the pace in environmental compliance for the energy sector.
1980
- The watershed areas of Tongonan and Palinpinon are declared as geothermal reservations.
1983
- The Philippines became the second largest producer of geothermal power in the world with the commissioning of the Tongonan 1 and Palinpinon 1 each with 112.5 MW installed capacity, adding to the more than 400 MW existing installed capacity.
1990
- Power from Palinpinon 1 was exported to Aklan, Iloilo, Capiz and Antique through submarine cables across the Guimaras Strait.
1992
- The Mount Apo project began after it passed through a two-year comprehensive environmental and social review.
1993
- The 110-MW Bacman 1 power plant starts commercial operations
1994
- EDC issued its first Eurobond and was successful in raising $90 million which was used to finance the development of the Mindanao I project.
1995
- Palinpinon II was commissioned, adding another 80MW to supply power to Cebu. The Mount Apo project was awarded with the Gawad Kalikasan Award for having the Most Outstanding Achievement in Environmental Impact Assessment.
1996
- Commercial operation of the 200 MW Leyte-Cebu plants marked the company’s entry into the power generation business through the Build, Operate, Transfer (BOT) scheme.
- EDC was awarded the Model for Environment Sustainability by the DENR and the United Nations Development Program (UNDP), and the Model for Greening by the National Economic and Development Authority (NEDA).
1997
- The 232.5-MW Malitbog and 180-MW Mahanagdong power plants in Leyte and the 52 MW Mindanao I geothermal production field in North Cotabato were commissioned.
1998
- Bacman II came on stream with another 40 MW for the Luzon grid while the 51-MW Optimization plants were switched on turning Leyte into a virtual power hub in the National Electric Highway.
1999
- The Mindanao II geothermal production field was commissioned, which added another 54 MW for the Mindanao grid.
2000
- EDC projects generated a total of 1,149.4 MW, which accounted for 60% of the country’s total geothermal capacity.
2006
- EDC launched its IPO in the Philippine Stock Exchange. With the handover of the 130-MW Upper Mahiao Power Plant,the company became a power plant operator. EDC receives citation from the Geothermal Union on the occasion of the Centenary of Italy’s Geothermal Industry.
2007
- The Malitbog, Mahanagdong and Ormat Optimization Power Plants were handed over to EDC after the BOT agreements were completed, vertically integrating the company’s operations in Leyte.
- EDC receives the Bull Run Award from the Philippine Stock Exchange for launching the biggest IPO of 2006.
- On November 29, 2007, EDC became a private corporation under Red Vulcan Holdings Corporation after the successful sale of 60% of its controlling stakes.
2008
- EDC ventures into hydropower by acquiring 60% stake in First Gen Hydro Power Corporation’s 112 MW Pantabangan-Masiway hydropower complex.
- EDC is featured as one of the Philippines’ 10 best practices in water and sustainable development at the 2008 World Expo in Zaragoza, Spain.
- Leyte’s geothermal success story lands prominently on the front page of Washington Post
- EDC receives an award of recognition from the Institute of Corporate Directors for being one of the 20 top-ranked companies in the 2007 Corporate Governance Scorecard.
2009
- EDC’s subsidiary Green Core Geothermal Inc. wins the bid for the 112.5 MW Tongonan I and 192.5 MW Palinpinon power plants
- EDC assumes ownership of the Mindanao geothermal power plants after the end of the cooperation period with Build-Operate-Transfer (BOT) contractors.
- EDC issues and lists P12 billion fixed rate bonds at the Philippine Dealing and Exchange Corp. (PDEX) making history as the first corporation to have its maiden bond offering listed on issue date.
- EDC is among the silver awardees scoring between 90 to 94 percent in the 2008 corporate governance scorecard, and improving its previous year’s rating of 84 percent.
- EDC inaugurates the Kananga-EDC Institute of Technology (KEITECH), a world-class technical-vocational training center in Kananga, Leyte.
2010
- EDC’s subsidiary Bacman Geothermal Inc. wins the bid for the 150 MW Bacman power plants
- Pantabangan-Masiway hydropower complex upgrades its capacity to 132 MW.
- EDC scores its first gold in the annual Corporate Governance Scorecard which assesses compliance levels of Philippine corporations.
- KEITECH sets a record for being the only technical-vocational education and training institution in the Philippines to successfully graduate 100% of its trainees with five TESDA certifications.
- Silliman University, one of the top universities in Dumaguete City, establishes a professorial chair in energy engineering in honor of EDC chairman emeritus Oscar M. Lopez.
- EDC acquires a new drilling rig which is considered the most modern drilling rig in the country with unique features such as the variable frequency drive and Amphion integrated rig control system.
- EDC is awarded a patent by the Intellectual Property Office for the on-line Steam Purity Monitoring system developed by the company’s geoscientists and engineers to provide quick, reliable and continuous real time data of geothermal steam supplied during normal plant operations for immediate response to system upsets.
2011
- EDC receives the Client Leadership award from the International Finance Corp. (IFC) for its pioneering role in developing and commercializing geothermal energy in the country and outstanding initiatives in sustainable development.
- EDC debuts in the offshore bond market, a historic first for a Philippine company with its 6.5% coupon and yield as the lowest ever coupon achieved for 10-year US$ denominated bond issuance.
- EDC partners with the World Wide Fund for Nature (WWF) for the Ring of Fire project which seeks to replicate the Philippines’ global success in sustainable geothermal production for Indonesia and the Asia-Pacific Region.
- With an overall rating of 98.5%, EDC bagged its second gold award in the Annual Corporate Governance Scorecard.
- The Department of Environment and Natural Resources (DENR) taps EDC to be a private sector partner for the National Greening Program.
2012
- EDC opens its first international outpost in Santiago, Chile.
- EDC bags a platinum award in corporate governance after obtaining a gold rating in the corporate governance scorecard for three consecutive years.
2013
- EDC breaks ground for the 87-MW wind power project in Burgos, Ilocos Norte after signing a deal with leading wind turbine supplier Vestas of Denmark.
- Tongonan and Palinpinon plants mark 30 years of continuous operation.
2014
- EDC inaugurated its 49.4-MW Nasulo geothermal plant in Valencia, Negros Oriental.
- EDC 150-MW Burgos Wind Energy Project in Ilocos Norte started to generate electricity.
2015
- EDC 4-MW Burgos-I Solar Power Plant in Ilocos Norte started operations.
2016
- EDC 2.66-MW Burgos-II Solar Power Plant began operations.
Our Business
We, at Energy Development Corporation, recognize that, in the pursuit of our business objectives, we shall protect the health and safety of our workforce and the stakeholders affected by our operations, and be good stewards of the environment.
We will conduct our operations in a manner consistent with the Lopez Values, where people, the environment, and the community are free from injury and harm.
We commit to implement a Health, Safety and Environmental (HSE) Management System that will constitute an integral part of our job in the development and management of our renewable energy facilities, and which shall be a prime responsibility of all persons working at and with the Company at all levels.
To achieve this commitment, we will:
- Adhere to all applicable compliance obligations related to HSE;
- Ensure that Management visibly demonstrates commitment and accountability to improve HSE performance, and that all persons working at and with the Company understand and conform to our HSE standards;
- Enhance organizational capability to provide all persons working at and with the Company the knowledge, skills, and resources, and to develop their attitude, in performing their respective functions safely, effectively, and in an environmentally-responsible manner;
- Establish a process that will enable consultation and participation of all persons working at and with the Company and concerned stakeholders;
- Adopt preventive and mitigating measures using appropriate technologies to improve the management of HSE programs, to reduce work-related incidents, to prevent pollution, to conserve biodiversity, and to promote the efficient use of energy, water, and other material resources;
- Establish a framework for setting sustainable HSE objectives and targets, and achieve continual improvement through HSE performance evaluation;
- Collaborate with the government, business partners, and other stakeholders in support of programs that promote HSE excellence; and
- Promote a healthy and safe workplace for all people working at and with the Company and promote their physical well-being.
We shall take the necessary measures to ensure that this HSE Policy is well understood, strictly implemented, and integrated into the way of life of all people working at and with the Company.
Policy Statement
EDC strives for operational excellence in quality and asset management to provide the highest sustainable value to customers in the development and generation of renewable energy and related services while ensuring process safety in the workplace.
In achieving our business objectives, and contributing to the nation’s economic and sustainable growth, we commit to comply with our stakeholder requirements, conform to the highest standards of practices, and continually improve our operations and asset performance.
It shall be the prime responsibility of all personnel at all levels to consistently meet customer requirements, effectively manage processes and risks, and optimize assets throughout their lifecycle.
Commitments
5.1 Customer Focus
The Company shall align its business objectives, growth strategies and operations with the dynamic market environment and the interests of its customers, stakeholders, community and the environment.
5.2 Leadership Support
The Company shall ensure that leaders visibly demonstrate involvement and commitment to promote the achievement of the organization’s quality and asset objectives.
5.3 Engagement of People
The Company shall cultivate an environment for individuals to be the best they can be and increase their value as an organizational resource with the right mindset for quality, risks, and related consequences.
5.4 Relationship Management
The Company shall work with equally responsible and qualified business partners that deliver goods and services in a timely and cost-effective manner while complying with all applicable legal, regulatory and other requirements.
5.5 Operational Excellence
The Company shall carefully plan and manage its asset use, and its facilities’ operations and maintenance to deliver safe, adequate, and reliable supply of power at optimum cost.
5.6 Asset Management
The Company will strive for optimum and sustainable management of its assets to maximize benefits, reduce risks, and ensure reliable service to its customers by applying and establishing best practices for managing asset functionalities, condition and lifetime requirements.
5.7 Process Approach to Management
The Company shall effectively and efficiently manage resources that can affect the outputs of the processes and overall outcomes of the established systems.
5.8 Evidence-Based Decision Making
The Company shall make decisions and take actions based on evidence, balanced with experience.
5.9 Continual Improvement
The Company shall continue to design, develop and deploy processes, systems and technologies to reap the full potential and ensure sustainability of our renewable energy business.
