The Lopez Group’s, Energy Development Corp (EDC), announced that they are targeting to be the world’s number 1 producer of Geothermal Energy by bidding for the Philippine government’s geothermal assets. If they win their bids for the Tongonan and Palimpinon Geothermal plants it will add 455.5MW’s to their capacity and bump up their total geothermal capacity to 1,650 MW,
EDC recently acquired a P4.1 Billion loan from the World Bank’s International Finance Corp to finance their renewable energy expansion and acquisition. They are aggressively announcing expansion despite the world wide credit crisis.
Aside from Geothermal, the Lopez Group Company also has renewable energy interests in Wind and Hydro Electric Power.
The Philippines is second only to the United States in terms of the number of electricity harnessed from Geothermal Energy
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Category: Geothermal, EDC
