Energy Development Corporation engages in the production of geothermal energy in the Philippines. The company primarily explores, develops, and operates geothermal energy projects. It is also involved in geothermal drilling and consultancy services.
Segments
The Electricity segment sells electricity generated by its power plants.
The Steam segment sells steam which is covered by the GSCs.
The Services segment engages in the construction and drilling operations.
Products or Services
The com...
Energy Development Corporation engages in the production of geothermal energy in the Philippines. The company primarily explores, develops, and operates geothermal energy projects. It is also involved in geothermal drilling and consultancy services.
Segments
The Electricity segment sells electricity generated by its power plants.
The Steam segment sells steam which is covered by the GSCs.
The Services segment engages in the construction and drilling operations.
Products or Services
The company operates 12 geothermal steamfields in the 5 geothermal service contract areas where it is principally involved in: the production of geothermal steam for sale to National Power Corporation (NPC) pursuant to Steam Sales Agreements (SSAs); generation of electricity for sale to NPC pursuant to Power Purchase Agreements (PPAs), and for Northern Negros to electric cooperative and distribution utilities pursuant to an Electricity Sales Agreement (ESA); and provides drilling equipment and rig personnel to the Lihir Gold Limited.
The company’s geothermal projects are located in areas, such as Leyte Geothermal Production Field, Southern Negros Geothermal Production Field, BacMan Geothermal Production Field, Mindanao Geothermal Production Field and Northern Negros Geothermal Production Field. The company also sells electricity to Iloilo Electric Cooperative I under the Electricity Sales Agreement. Separately, it also has drilling activities in Papua New Guinea.
Significant Events
The company, in 2008, acquired a total of 60% interest in FG Hydro from First Gen. FG Hydro operates the 112 Megawatt (MW) Pantabangan and Masiway Hydro-Electric Power Plants located in Nueva Ecija, Philippines. FG Hydro sells electricity to Wholesale Electricity Spot Market and to various electric companies under the Transition Power Supply Contracts.