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.
To be the leading global geothermal energy company and key provider of clean, renewable 24/7 energy.
To forge collaborative pathways for a decarbonized and regenerative future.
The Lopez Credo and Values
We believe that our primary reason for being is to serve God and the Filipino people.
We shall always conduct ourselves in a manner that is mindful 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 the present and future generations guided by the following distinct Lopez Values:
We know from generations of experience that it is by living according to these values that a company can be built to last.
EDC’S WAY TO PLAY
EDC’S WAY TO PLAY
What We Bring
1,480.19 MW Overall total
Geothermal Power Plants
Know more about our advocacy for a better planet
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.
EDC energized a 3-MW plant that generated electricity for Ormoc City in the Visayas region.
EDC establishes its Environmental Management Group and set the pace in environmental compliance for the energy sector.
The watershed areas of Tongonan and Palinpinon are declared as geothermal reservations.
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.
Power from Palinpinon 1 was exported to Aklan, Iloilo, Capiz, and Antique through submarine cables across the Guimaras Strait.
The Mount Apo project began after it passed through a two-year comprehensive environmental and social review.
The 110-MW Bacman 1 power plant starts commercial operations.
EDC issued its first Eurobond and was successful in raising $90 million, which was used to finance the development of the Mindanao I project.
Palinpinon II was commissioned, adding another 80MW to supply power to Cebu. The Mount Apo project was awarded the Gawad Kalikasan Award for having the Most Outstanding Achievement in Environmental Impact Assessment.
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).
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.
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.
The Mindanao II geothermal production field was commissioned, which added another 54 MW for the Mindanao grid.
EDC projects generated a total of 1,149.4 MW, which accounted for 60% of the country’s total geothermal capacity.
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.
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 received 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.
EDC ventures into hydropower by acquiring a 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 the 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.
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.
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.
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.
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.
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.
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.
EDC 4-MW Burgos-I Solar Power Plant in Ilocos Norte started operations.
EDC 2.66-MW Burgos-II Solar Power Plant began operations.
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.
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.
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.
The Company shall ensure that leaders visibly demonstrate involvement and commitment to promoting the achievement of the organization’s quality and asset objectives.
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.
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.
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.
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.
Process Approach to Management
The Company shall effectively and efficiently manage resources that can affect the output of the processes and overall outcome of the established systems.
Evidence-Based Decision Making
The Company shall make decisions and take actions based on evidence, balanced with experience.
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.
Corporate Social Responsibility
Social responsibility strengthens EDC’s business leadership. Our governance framework ensures that CSR is a priority agenda. It is our commitment to uplift the quality of lives of our communities as it aligns with EDC’s vision, mission, and values.
Today, the concept of shared value and inclusive growth has become more ingrained in EDC CSR programs and practices as we continuously push for the sustainable business model that aligns with the pressing environmental and social needs of our communities.
EDC CSR creates effective platforms to protect its watersheds and to engage its communities in various programs that will not only uplift them socio-economically but will also instill environmental stewardship.
Head Office: 6th Floor, Rockwell Business Center Tower 3
Ortigas Avenue, Pasig City, 1604
Phone: (+632) 8667.EDC (8667-7332) |
Email: [email protected]