Philippines: EDC reports geothermal revenues of $550 million
Bacon-Manito geothermal power plant, Philippines (source: First Gen Corp.)
Alexander Richter
26 Mar 2014
The outlook for First Gen, the mother company of Energy Development Corp, is good with several projects under way, among them the 40 MW Nasulo project. EDC created geothermal revenues of roughly $550 million last year.
In a new release by First Gen Corp., the company is bullish on its outlook. The company through its subsidiary Energy Development Corp. (EDC), is currently constructing several projects, among them the 40 MW Nasulo geothermal project.
EDC [Energy Development Corp.] has restored Unified Leyte to its pre-Haiyan operating capacity, while BacMan Unit 1 [along with Unit 3] is already operating,” Puno added.
EDC’s geothermal revenues accounted for $547.7 million and contribute roughly a fourth of overall power generation revenue for the company.
Source: Business Mirror
