EDC to invest P30 Billion in Leyte geothermal complex

Energy Development Corp. (EDC) will shell out about P30 billion to rebuild its Leyte geothermal complex, targeting a 700-megawatt capacity by 2029, as part of a multiyear program to raise capacity and replace aging facilities.

Starting this year, a new plant will be built to replace old units, lifting the operating capacity of the Leyte facility by around 55 percent. In a chance interview with reporters, EDC chief finance officer Erwin Avante said the company would focus on “reimagining” Leyte, particularly the upper Mahiao area, where two old units have already been decommissioned.

First Gen-Energy Development Corporation (EDC) is the Lopez Group’s global and diversified renewable energy company. With over 40 years of pioneering sustainable practices, it is the Philippines’ leading 100% renewable energy producer with an installed capacity of 1,480.19 MW which accounts for about 20% of the country’s total installed RE capacity. With geothermal as its primary source of power, First Gen-EDC’s 1185.40 MW provides around 61% of the country’s total installed geothermal capacity.
​
First Gen Corporation (First Gen) is the primary holding company for power generation and energy-related businesses of First Philippine Holdings Corporation (FPH). First Gen, guided by its mission of forging collaborative pathways for a decarbonized and regenerative future, is a leader in providing clean and renewable energy. First Gen uses natural gas, geothermal, hydro, solar, and wind power plants to generate electricity. Its power portfolio is currently composed of 30 operational power plants strategically located in all three main island grids of the Philippines. It has a total installed capacity of 3,495.2 megawatts (MW), making it one of the country's largest Independent Power Producers (IPP).