EDC provides funds for host towns of geothermal facilities in Leyte
EDC has turned over USD 236,000 in funding as part of the company's obligation to support the local host communities of their geothermal facilities.
Philippine-based Energy Development Corporation (EDC) has turned over Php 12.4 million (approx. USD 236,000) of funding to Ormoc City and the Municipality of Kananga, the two host towns of the company’s 726.7.-MW Leyte geothermal facilities.
The turnover of these funds is incompliance with the Philippine Department of Energy’s Circular No. DC2018-08-0021. This circular requires power generation companies to provide benefits equivalent to 1 centavo per kWh of the total electricity sales to the local host communities.
“This strong partnership enables EDC to continue its mission of generating 100% renewable energy to decarbonize our country for its regenerative future,” said EDC Corporate Relations and Communications Head Allan Barcena.
The geothermal facilities of EDC in Leyte straddle the territories of Ormoc City and Kananga Municipality. This year’s funds will be allocated by the local government units to continued pandemic response and some infrastructure projects.
Earlier this year, EDC inaugurated a 3.6-MW binary plant that expands the capacity of their Mindanao geothermal facilities. Parent company First Gen Corp. also announced that EDC is expected to spend about USD 266 million this year for growth projects.
Source: Business World