Energy Development Corp. (EDC), the Lopez Group 's renewable energy arm, has maintained its top-tier financial standing, receiving the highest PRS Aaa credit rating with a Stable Outlook from Philippine Rating Services Corp. (PhilRatings) for its ₱12.5 billion in outstanding Fixed-Rate ASEAN...
Lopez-led Energy Development Corp. (EDC) has announced a new joint venture in Indonesia to develop 440 megawatts (MW) of renewable energy. In a statement, ECD said its subsidiary, PT FirstGen Geothermal Indonesia, has partnered with the Indonesian geothermal firm PT DSSR Daya Mas Sakti (DSSR), a...
Lopez-led Energy Development Corp. (EDC) is planning to invest ₱13 billion to expand its geothermal energy portfolio as part of its ongoing efforts to scale up renewable energy capacity. In an interview with EDC President and Chief Operating Officer Jerome Cainglet, he explained that the company...
Lopez-led Energy Development Corp. (EDC) plans to expand its geothermal fleet by approximately 90 megawatts (MW) over the next five to six years following the recent inauguration of its 22-MW Tanawon geothermal plant. In an interview, EDC President and Chief Operating Officer Jerome Cainglet said a...
SORSOGON CITY – Lopez-led First Gen Corp. (FGen), through its renewable energy subsidiary Energy Development Corp. (EDC), launched the 22-megawatt (MW) Tanawon geothermal power plant on Friday, Aug. 1, to bolster the country 's clean baseload capacity. “This is not only a proud achievement...
In an effort to address the rapid increase in demand for electricity in Visayas, Lopez-led Green Core Geothermal Inc. (GCGI) is setting its sights on upgrading its Palinpinon 1 geothermal plant in Negros Oriental. According to GCGI, a subsidiary of Energy Development Corp. (EDC), the proposed...
Lopez-led First Gen Corp. (FGen) reported that its first-quarter net income declined by four percent due to lower geothermal output, market price movements, and a lapsed power deal. In a disclosure to the Philippine Stock Exchange (PSE) on Tuesday, May 6, FGen said its recurring net income during...
LEGAZPI CITY, Albay – The Energy Development Corp. (EDC) has donated thousands of food packs and drinking water to residents affected by the Mayon Volcano unrest in different evacuation centers in Camalig, this province. EDC employees distribute food packs and gallons of water to evacuees at the...
Hocheng Philippines Corporation (HCG), a total bathroom solutions provider, has renewed its power supply agreement with First Gen Corporation of the Lopez group. The new lease on their contract entails that HCG will continue to draw its 850-kilowatt power requirements from the geothermal assets of...
GUUN Co. Ltd., a Japanese waste management and recycling company, has signed a power supply deal with First Gen Corporation so it can draw its energy needs from a clean technology source. In a statement to the media, First Gen specified that GUUN’s switch to renewable energy will support its...
Another factory shifts energy use to RE By MYRNA M. VELASCO Mc Bride Corporation, which is into PET bottles manufacturing, is the latest to join the bandwagon of corporates which had shifted its power use to renewable energy (RE), as catered to by Lopez-led firm First Gen Corporation. Based on a...
Lopez-led Energy Development Corporation (EDC) will be reinforcing its geothermal capacity with at least six new projects being lined up for completion by end-2022 and in the next five years. Atty. Allan Barcena, assistant vice president and head of public relations at EDC, noted that four projects...
