EDC settles JPY22 billion Miyazawa II loan
Geothermal leader Energy Development Corporation (EDC) moves closer to its goal of overhauling the currency mix of its loan portfolio as it settled on June 28 its JPY22B Miyazawa II debt. With the settlement, EDC’s JPY loans now account for only 13 percent of the company’s total loans from the 87 percent and 40 […]
EDC gets gold in corporate governance
For the third time in a row, Energy Development Corporation (EDC), the country’s largest producer of geothermal energy, made it to the elite list of corporations that ranked high in corporate governance. EDC is among the gold awardees scoring 95 percent and above in the 2009 corporate governance scorecard, topping its previous year’s silver award. […]
EDC Annual Report Gets Highest Anvil Honors For PR Tools
Geothermal leader Energy Development Corporation (EDC) received the Bronze Anvil for its 2008 annual report titled “Greenergized.” The Public Relations Society of the Philippines (PRSP) bestowed the highest Anvil for PR tools to “Greenergized” for successfully communicating its sustainable energy brand by highlighting its intrinsic value as a renewable energy company and providing comprehensive information […]
New Rig To Boost EDC’s Savings and Income From Drilling
Rig 14 is the most modern drilling rig in the country with unique features such as the variable frequency drive and Amphion integrated rig control system. Geothermal leader Energy Development Corporation (EDC) expects to save US$40,000 a day from its new drilling rig, the most modern in the country. The savings will be realized […]
EDC Awarded Patent For Homegrown On-Line Steam Purity Monitoring System
The Bureau of Patents of the Intellectual Property Office has awarded a patent to geothermal leader Energy Development Corporation (EDC) for its on-line Steam Purity Monitoring system. The system, developed by EDC’s geoscientists and technical services engineers, and installed in all the company’s project sites since 1996, provides quick, reliable and continuous real time data […]
EDC, AFI Ink Agreement on Bantay-Baterya & Bantay-Langis Projects
A pact for a clean environment. Energy Development Corporation Vice Chairman & CEO Paul Aquino and ABS-CBN Foundation, Inc. Managing Director Gina Lopez seal agreement to help clean up the environment of pollution-causing junk lead acid batteries and used oil through the Bantay Baterya and Bantay Langis projects, respectively. EDC will donate its used oil […]
EDC Retail Bond Listed in PDEx Dec. 4; First Corporate Bond to be Listed on Issue Date
The PhP12 billion Fixed Rate Bonds of geothermal leader Energy Development Corporation (EDC) was issued and listed last December 4 at the Philippine Dealing and Exchange Corp. (PDEx). The bonds have a term of 5-1/2 years and 7 years with fixed interest rates of 8.6418% per annum and 9.3327% per annum, respectively. With the listing, […]
EDC Annual Report in MAP’s list of Top 20
For the second time in a row, EDC made it to the Management Association of the Philippines’ elite list of best annual reports and bagged the Best in Visual Design. EDC Vice Chair & CEO Paul Aquino (3rd from left) receives the award from the board of judges: Businessworld President Anthony Cuaycong, MAP President Joey […]
EDC Pays PSALM; Assumes Operations of Tongonan & Palinpinon Geothermal Plants
Geothermal leader Energy Development Corporation (EDC) assumed operations of the 112.5-MW Tongonan 1 and 192.5-MW Palinpinon geothermal power plants on October 23 after paying PSALM P3.9 billion representing 40 percent of the purchase price and $7 million for the purchase orders, rental, option price, performance security deposit on land lease, and industrial all-risks insurance policy […]
EDC Confident of Bond Issuance’s Success
Energy Development Corporation (EDC) is confident investors will respond positively to its upcoming bond issuance after securing an Aaa rating from PhilRatings. “Getting the highest possible corporate credit rating affirms EDC’s good credit standing and excellent fiscal management. The rating definitely provides the necessary push to make our bonds more attractive to investors and gives […]