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EDC Integrated
Report 2023

EDC Integrated
Report 2023

Financial Capital:
Funding Value Creation

EDC’s financial capital is the essential foundation that enables all of our other capitals to function. However, our evaluation extends beyond company finances; we also consider the potential added value that our partners and collaborators can provide. It is only by collaborating with our shareholders, stakeholders, and business partners that we can steadily build our financial capital.

Contribution to SGDs


  • Extensive capital expenditure program, which maintains availability and reliability of power generating assets
  • Investments in climate-proofing and resiliency
  • Maintained target selling price and annual revenues
  • Optimized capital allocation of funds for operating and capital expenditures
  • Investment of PHP122.8 million for corporate social responsibility (CSR) initiatives across the project sites (including FG Hydro)
  • New technologies for well-casing integrity
  • Advanced chemical technologies for cleaning and maintaining wells
  • Advanced Smart Steamfield Technologies for well collapse detection


  • PHP47.17 billion revenue
  • PHP14.2 billion RNIA
  • 8,044.3 GWh energy sales
  • Drew down PHP12 billion in bilateral term loans to fund business plan
  • 7,443 GWh generation


  • Debt and equity risks
  • Natural decline in geothermal resource
  • Natural catastrophe and disasters
  • Deforestation
  • Social acceptance & historical and political oppositors
  • Inability to source funds for refinancing in the event of a recession


  • PHP13.2 billion target RNIA


  • More funding available for growth


  • Zero loan defaults

Collaboration And Alignment: Stability With EDC
Jasmine Espregante, IFRS and Audit Management

Like most EDC employees, Jasmine Espregante’s day starts early. She takes a look at her schedule, lays out her priorities for the working day, and gets right into work. Between the meetings, the various duties she has to fulfill as a member of the Comptrollership team, and her own personal affairs, Jasmine understands the importance of aligning everything for the best possible results.

With her 20 years of experience working in EDC, she has discovered that the most reliable way to accomplish this alignment is by collaborating with her colleagues and the Company as a whole. ”When I started in EDC (PNOC-EDC then), my goal was to obtain experience, get as much experience [as I could], and learn for future advancements.” But as her career progressed within the Company, she began to reprioritize. “Over the years, my consideration shifted to prioritizing stability.”

This stability was reachable for Jasmine because her values aligned with EDC’s regenerative goals. While her work in finance doesn’t directly impact the environment as much as her colleagues in other departments, she takes pride in her contributions to advancing EDC’s overall sustainability initiatives.

As Jasmine continues her work at EDC, she finds fulfillment in knowing that her values not only align with the duties expected of her as an employee, but also directly contribute to her personal goals. “My role [in] IFRS and audit management helps EDC fulfill its Mission to forge collaborative pathways for a decarbonized and regenerative future by being part of a team that aims to present financial statements in a manner that will be useful to investors and stakeholders in decision making.”

EDC continues to provide its employees with the opportunity to align their personal goals and values with the Company’s own initiatives. For employees like Jasmine, this care allows them to perform their tasks with confidence—and comfort in the knowledge that their work makes a difference.