The Lopez Group’s Energy Development Corp is set to have 5 geothermal development contracts approved by the Department of Energy.
The 5 areas are said to be able to produce about 110 MW plus of geothermal based energy. The 5 areas are located at Mt. Ampiro in Misamis Occidental (30 MW), Balingasag, Misamis Occidental (20 MW), Lakewood in Negros Occidental (40 MW), Mandalagan in Negros Occidental (20 MW)) and Mt. Zion in North Cotabato (capacity unknown).
This is on top already of the contracts that were awarded to them for the areas of Mt. Labo in Camarines Norte and Mt. Mainit geothermal in Davao del Norte.
The Energy Development Corp used to be a subsidiary of the PNOC before it was privatized by the government in order to muster up some funds to pay off the country’s debt. PNOC recently announced that they were once again entering into the geothermal business with the acquisition of two exploration contracts from the Department of Energy.
[source]
Category: Investing, Geothermal, EDC
