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Energy Development Corp., the renewable energy subsidiary of First Gen Corp., is spending P40 billion this year to bolster its portfolio and support geothermal development in the country.
LOPEZ-LED First Gen Corp. on Wednesday said that subsidiary Energy Development Corp. (EDC) was planning to issue the second tranche of its shelf-registered Asean green bond program, amounting to up to P10 billion in fixed-rate bonds.
Lopez-led Energy Development Corp. saw lower profits in the first three months of the year due to higher costs of sales and taxes, as well as lower wind power generated and sold.
Energy Development Corp. (EDC) reported a 19-percent decline in net income for the first quarter to P2.63 billion from P3.26 billion in the same period a year ago. “The decrease was mainly due to higher costs of sale (P1,049.9 million) and higher net provision for income tax (P194.6 million) partly…
Energy Development Corp. (EDC) is hopeful that the next administration will continue to give focus on renewables as the country has begun a gradual transition from coal to clean power. EDC Senior Vice President and Chief Financial Officer Erwin Avante recognized the support of the current administration in implementing mechanisms…