LOPEZ-LED geothermal power firm Energy Development Corp. (EDC) plans to invest more than $1 billion in green energy pro-jects over five years from 2011, company president Richard B. Tantoco said yesterday. The country’s largest geo-thermal energy producer wants to spend around $805 million for new geothermal projects that will generate 230 megawatts (MW) of electricity, [...]
Posts Tagged ‘EDC’
EDC investing $1B in ‘green energy’ projects over five years (7/30/2010)
Posted in Business World News, tagged EDC, Geothermal energy, Renewable energy on July 30, 2010 | Leave a Comment »
Geothermal producer to settle ¥22-billion Miyazawa II loan (6/28/2010)
Posted in Business World News, tagged EDC, Financing, Geothermal energy on June 28, 2010 | Leave a Comment »
LOPEZ-LED Energy Development Corp. (EDC) will settle a ¥22-billion loan from the Japanese government today, to assuage concerns among investors of too much exposure to yen debt. EDC said in a statement the settlement of the company’s Miyazawa II loan would overhaul the currency mix of its debts. The company had already paid ¥12 billion [...]
EDC seeks $325M in loans (6/07/2010)
Posted in Inquirer News, tagged EDC, Geothermal energy on June 7, 2010 | Leave a Comment »
Energy Development Corp., the country’s biggest producer of geothermal energy, is seeking $325 million in loans from foreign banks and a multilateral institutions to help finance maturing obligations and other capital expenditure projects. Inquirer sources said that about $175 million of the loans would come from three foreign banks—Credit Agricole, Standard Chartered Plc and Australia [...]
Lopez company submits highest bid for BacMan (5/06/2010)
Posted in Business World News, tagged Bac-Man, EDC, PSALM on May 6, 2010 | Leave a Comment »
BAC-MAN Geothermal, Inc. yesterday submitted the highest offer for the 150-megawatt (MW) Bacon-Manito (BacMan) geothermal complex in an auction held by the Power Sector Assets and Liabilities Management Corp. (PSALM). In a news release, PSALM said that Bac-Man Geothermal, wholly owned unit of Lopez geothermal giant Energy Development Corp. (EDC), offered $28.25 million for the [...]
First Gen scraps plan to sell stake in Red Vulcan after settling its financial obligations (10/27/09)
Posted in Business World News, tagged EDC, First Gen on October 27, 2009 | Leave a Comment »
LISTED POWER holding company First Gen Corp. of the Lopez group said it has put on hold plans to sell part of its stake in Red Vulcan Holdings Corp. after it was able to refinance its debts. Red Vulcan is the controlling shareholder of listed geothermal giant Energy Development Corp. (EDC). “[Plans to sell are] [...]
EDC takes over Tongonan, Palinpinon geothermal plants (10/26/09)
Posted in Philippine Star News, tagged EDC, Geothermal energy on October 26, 2009 | Leave a Comment »
Energy Development Corp. (EDC), the country’s largest geothermal energy developer, assumed operations of the 112.5-MW Tongonan 1 and 192.5-MW Palinpinon geothermal power plants last Oct. 23. The takeover of the two geothermal facilities came after EDC paid the government through the Power Sector Assets and Liabilities Management Corp (PSALM) some P3.9 billion representing 40 percent [...]
Regulator approves EDC hike in capitalization (10/14/09)
Posted in Manila Times News, tagged EDC on October 14, 2009 | Leave a Comment »
THE Securities and Exchange Commission (SEC) has approved the increase in the authorized capital stock of the country’s biggest geothermal energy producer. Documents showed that Energy Development Corp. (EDC) planned to increase its authorized capital stock from 15.075 billion to 30.15 billion, divided into 30 million common shares and 15 billion preferred shares. The common [...]
