PNOC-EDC

completed

_x000C_PNOC-EDC is an integrated geothermal steam and electricity producer with its core activities being the exploration, development and production of geothermal resources. The company has four existing geothermal production fields: Bacon-Manito Geothermal Production Field (150MW), Leyte Geothermal Production Field (701MW), Southern Negros Geothermal Production Field (192MW), and Mindanao Geothermal Production Field (106MW), totaling 1,149MW geothermal capacity, accounting about 60% of the country’s total installed geothermal capacity of 1,905MW. In 2005, the company’s existing geothermal production fields generated 7,080 GWh of electricity with annual capacity factor of about 70%. IFC is planning to provide financial support to the company to assist them in their medium term capital expenditure program which includes acquisition of a new drilling rig, rehabilitation of existing drilling rigs, and expansion / development of geothermal production fields. The proposed IFC investment will be up to $50 million.