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IFC to extend $90 million loan to Energy Development Corp. (EDC) in Philippines

193 MW Palinpinon geothermal plant, Leyte, Philippines (source: First Holdings, creative commons)
Alexander Richter Alexander Richter 4 Jan 2018

The International Finance Corporation (IFC) is considering a loan of $90 million to help Energy Development Corp. (EDC) to fund capital requirements for the recovery of service of geothermal power plants in Leyte that were affected by the July 2017 earthquake.

Still challenged with recovery from the earthquakes in Leyte in the Philippines, the International Finance Corporation (IFC), the private lending arm of the World Bank, is considering to extend a $90 million loan to Energy

A disclosure by the International Finance Corporation (IFC) said the money would be used by EDC to fund the capital requirements for the recovery of service of geothermal power plants in Leyte that were affected by the July 2017 earthquake.

EDC ins an integrated geothermal steam and electric power producer in the Philippines and a global geothermal energy industry leader. It is the Philippines’ largest vertically-integrated geothermal developer, with an installed geothermal power generation capacity of 1,457.8 MW in the country.

Source: Deal Street Asia