Lopez-led Energy Development Corporation (EDC) will be injecting fresh investment of P7.0 billion for a 29-megawatt expansion project at its Bacon-Manito (BacMan) geothermal power facility in the Bicol region. The Palayan binary power facility’s advancement to construction officially broke ground...
The Duterte administration’s chief economic manager has called on lawmakers to support temporary increased in pork imports at lower tariff rates to address the scarcity in the domestic supply of hog meat. Finance Secretary Carlos G. Dominguez III said the lower import tariffs and higher the...
Lopez-led Energy Development Corporation (EDC) has handed over P4.16 million electrification fund to Negros Oriental I Electric Cooperative (NORECO I), a power utility servicing the host community of the power generation firm. The company said the fund remittance is part of the province’s...
Lopez-led Energy Development Corporation (EDC) has tapped California-headquartered GreenFire Energy Inc. for the commercial retrofit of geothermal wells to optimize steam production for its Manahagdong geothermal power facility in Leyte province. The retrofit work for the plant to be carried out by...
Lopez-led First Gen Corporation was considerably in auspicious state last year on its financial performance, as its earnings had just declined by marginal 7.0-percent to P13.7 billion (US$276 million) from P15.4 billion (US$296 million) in 2019. “The company managed the challenges that arose...
Energy Development Corporation (EDC) is planning to issue P3 billion worth of Green Bonds with an oversubscription option of up to P2 billion. Philippine Rating Services Corporation (PhilRatings) said it has assigned its highest issue credit rating of PRS Aaa, with a Stable Outlook, for...
Lopez-led Energy Development Corporation (EDC) is scheduling P15 billion worth of bond issuance under its maiden “green bond framework”, of which proceeds will be used to bankroll new renewable energy (RE) projects as well as to refinance loans for existing RE facilities. The company said its...
Big ticket geothermal firms Energy Development Corporation (EDC) of the Lopez Group and Sy-owned Philippine Geothermal Production Company (PGPC) as well as Mase Power Corporation have submitted bids for the geothermal blocks tendered by the Department of Energy (DOE) via the 3rd open and...
The country’s largest geothermal energy producer Energy Development Corporation (EDC) had taken its first cardinal step to become a ‘zero waste company’, in line with its goal for a regenerative and decarbonized future. The Lopez-led firm’s “zero waste target” is rooted upon the fact...
Lopez-led Energy Development Corporation (EDC) had tapped Japanese firm Mitsubishi Heavy Industries Ltd. for the supply of equipment that will power up its 29-megawatt capacity expansion project at its existing Bacon-Manito (BacMan) facility in the Bicol region. The equipment from Turboden S.p.A,...
The Export Development Council (EDC) has approved a revised Philippines exports growth target to $105 billion by 2022 or 19.23 percent lower than the original forecast of $130 billion taking into consideration impact of pandemic and weaker global demand. “The revised targets are lower than...
Electricity service restoration in typhoon-ravaged provinces in the Bicol region is now on its accelerated pace, with power supply already back in Naga City and three towns in Camarines Sur; while several towns in Camarines Norte already gained back their power service. In an update report of the...
