The United States government, through its US Trade and Development Agency (USTDA), has extended financial assistance for the conduct of a feasibility study (FS) on the 50-megawatt Amacan geothermal prospect being pursued by Lopez-led Energy Development Corporation (EDC) in Mindanao. The grant was...
Lopez-led First Gen Corporation net income declined by eight percent to $194 million in three quarters this year from the year-ago level of $211 million. But due to the depreciation of the Philippine peso versus the US dollar, the company was able to register flat earnings at P10.2 billion during...
Owing to disrupted fuel supply in its gas-fired power plants due to the depleting state of the Malampaya gas field, the recurring net income of First Gen Corporation in the first half decelerated by 13 percent to P6.6 billion ($128 million) from a rosier financial outcome of P7.8 billion ($148...
Food manufacturer Monde Nissin Corporation (MNC) has inked a power supply agreement (PSA) with Energy Development Corporation (EDC), for it to source electricity supply from a renewable energy-generated resource. According to EDC, which is a subsidiary firm of Lopez-led First Gen Corporation, the...
Leading renewable energy (RE) firm Energy Development Corporation (EDC), a subsidiary of Lopez-led First Gen Corporation, will be supplying RE-generated electricity to Bohol province for the next 10 years. In a statement to the media, EDC emphasized that it won the joint competitive selection...
Razon-led MORE Electric and Power Corporation will tap 20 megawatts of its electricity supply from Energy Development Corporation (EDC), a subsidiary of First Gen Corporation of the Lopez group. MORE Power will be utilizing the contracted power supply in servicing its roughly 87,000 customers in...
TDK Philippines Corp., a manufacturing firm for electronic components, had shifted its electricity service usage to renewable energy (RE) and will tap Energy Development Corp. (EDC) of Lopez-led First Gen Corp. for its supply. The TDK Group said it had taken this move for its entire manufacturing...
Lopez-led First Gen Corp. posted a lower net income of $59 million (P3 billion) in the first quarter this year, down by 24.36 percent from $78 billion (P3.8 billion) same period in 2021 due to gas supply problems and bad weather. Its revenues, meantime, rose by 18 percent to $570 million (P29.1...
The 3.6-megawatt binary expansion of the Mindanao geothermal power plant of Lopez-led Energy Development Corporation (EDC) is now delivering capacity into the grid, hence, reinforcing Mindanao’s portfolio on the renewable energy (RE) sphere. The P1.9 billion Mindanao-3 (M3) expansion project...
Lopez-led First Gen Corporation and Energy Development Corporation (EDC) have signed up at least 11 new customers for power supply agreements (PSAs) anchored on the Green Energy Option Program (GEOP) instituted by the government. First Gen-EDC's new customers include Asahi Electrical Manufacturing...
Leisure and business hotel The Linden Suites has shifted its electricity usage to renewable energy (RE) by underwriting a power supply agreement (PSA) under the Green Energy Option Program (GEOP) offer of First Gen Corporation and Energy Development Corporation of the Lopez group. According to Ma....
The dual-tranche P5-billion ASEAN green bonds issuance of Lopez-led Energy Development Corporation (EDC) has been rated as the “best local currency green bond” by the Triple A Awards 2021, which is part of The Asset, a financial multi-media group. In a statement to the media, EDC noted that the...
