Energy Dev III

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EDC is an integrated geothermal steam and electric power producer with its core activities being the exploration, development, and production of geothermal energy. The company operates 1,169 MW of geothermal, 150 MW of wind, 132 MW of hydroelectric power, and 6.8 MW of solar — delivering a total of 1,457.8 MW (gross) of clean and renewable energy. EDC owns over 60% of the country's total installed geothermal capacity of 1.9 GW.  The company is an existing IFC client and is seeking financing to support EDC's 2018 capital requirements and other general corporate purposes for existing geothermal operations. The proposed IFC investment will be A loan of Philippine Peso equivalent to $90 million. EDC has over three decades of experience developing and operating geothermal plants and most of its existing facilities have been in operation since the eighties. Ongoing operation of the geothermal plants involve regular exploration and drilling activities and laying of pipelines in existing steam fields.   EDC organizes its geothermal operations in four Business Units (BU): Leyte Geothermal BU (LGBU), in Leyte Island; Mt. Apo Geothermal BU (MAGBU), in Mindanao Island; BacMan Geothermal BU (BGBU), in Luzon Island; and Negros Island Geothermal BU (NIGBU).  Each BU includes, among others, the following facilities: access roads, steam fields, well pads, pipelines, and power generation plants. The company also operates the following non-geothermal renewable energy assets in Luzon Island: Burgos 150 MW windfarm (55 wind turbines) and 6.8 MW solar park, commissioned in 2015 and 2016, under the Wind Ilocos Norte BU (WINBU) and a 132 MW hydropower scheme, commissioned in 1977, under the FG Hydro BU (FGHBU).