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...
Leading renewable energy firm Energy Development Corporation (EDC) has extended for another two years its power supply agreement with Silliman University, an academic institution in the Visayas which has been championing the utilization of green technology for its energy needs. For this power...
Lopez-led First Gen Corporation registered a flat growth in income at P12.4 billion ($252 million) last year due to uncertainties ignited by soaring fuel prices in the world market that had impacted the overall operation of its electric generating assets. The company qualified that while it...
Academic institution De La Salle-Lipa, which is reinforcing its sustainability practices, has renewed its power supply agreement (PSA) with Energy Development Corporation (EDC), the pure renewable energy subsidiary of Lopez-led First Gen Corporation. In a statement to the media, EDC noted that the...
The profitability of Lopez-led First Gen Corporation has improved by 11 percent to P10.3 billion ($212 million) in nine months this year from P9.9 billion ($196 million) within the same period in 2020. The company said it “benefited from higher electricity sales,” and among its income driver is...
EDC supplies green energy to bathroom fixtures firm By MYRNA M. VELASCO Clean power producer Energy Development Corporation (EDC) will flush out ‘dirty energy’ in washrooms, as it cornered bathroom fixtures company Hocheng Philippines Corporation, also known as HCG, as a new client that it will...
The Energy Development Corporation (EDC) was slapped with fines by the Energy Regulatory Commission (ERC) after its Nasulo geothermal plant was found to have breached the mandated ‘forced outage limit’ prescribed for such technology in the electricity generation business. In a disclosure to the...
Cebu-based steel manufacturing firm Chioson Development Corporation (CDC) has shifted power use into renewable energy (RE), and it signed up with Energy Development Corporation (EDC), to become its electricity service provider. According to EDC, which is a subsidiary of Lopez-led energy firm First...
