The Lopez Group’s Energy Development Corp (EDC) announced that they are seeking geothermal projects in the country of Kenya in Africa. They have received an invitation to bid for geothermal projects and are currently studying whether it is a feasible endeavor or not.
One of the main targets of the company for 2010 is to strengthen its presence in the international market which will lead to more income generation. There had been rumors that EDC had bid for a geothermal drilling project in Chile. What EDC however has confirmed was that they were eyeing expansion in South Asia and in the Middle East.
They said that they were looking for potential geothermal sites without owners in Indonesia and that they plan to operate as a 100% foreign owned company without a local partner in Indonesia.
EDC, since 1999, already had a drilling contract with gold producer, Lihir Gold Ltd. (LGL), of Papua New Guinea. The gold processing and mining company has been using geothermal energy to power its operations.
[source]
Category: Investment, Geothermal, EDC
