EDC receives approval for investment into Nasulo plant
The Energy Development Corp. (EDC) receives approval for $104 million investment in the construction of the 49.4 MW Nasulo geothermal power plant in Negros Oriental.
The Philippines'”Board of Investments (BOI) has approved the P4.64 billion ($104 million) investment of Energy Development Corp. (EDC) for the construction of a 49.4 MW Nasulo geothermal power plant.
The geothermal power plant, which is eligible for incentives and is listed under the Investment Priorities Plan, is located in Sitio Nasulo, Barangay Pugahan, Valencia, Negros Oriental.
The project will start commercial operation in January 2016. EDC is 76 percent Filipino-owned and 24 percent foreign.”
Source: Manila Bulletin