In the geothermal energy industry—geothermal steam, forest resources, water, and biodiversity conservation are all important. We are committed to our transformation journey, so we conduct fit for purpose activities that improve the cost efficiency of our power generation. We ensure the protection and maintenance of these resources in our geothermal reserves, along with proper management of recyclable wastes.
Through our geothermal steam via our brine optimization power plants, we generate additional power to serve our customers without significant carbon emissions. At the same time, geothermal steam also functions as natural, manufactured capital for EDC as it generates a Company product.
Our decarbonization initiatives enhance our corporate value in terms of financial capital, pushing us closer towards green financing. Through our carbon-negative operations, we also increased our potential generated revenue in addition to the new revenue streams in the selling of Renewable Energy Certificates (RECs). Our local communities were given work opportunities too, thus nurturing our social and human capitals.
With the Department of Energy (“DOE”), EDC has ten (10) geothermal contract areas, each granting EDC exclusive rights to explore, develop, and utilize the corresponding resources in the relevant contract area. EDC conducts commercial operations in four of its 10 geothermal contract areas as follows:
- Tongonan, Kananga, Leyte – EDC operates geothermal steamfield projects in Leyte, which deliver steam to the Tongonan geothermal power plant owned by EDC’s subsidiary GCGI, and the EDC-owned Unified Leyte geothermal power plants.
- Southern Negros, Valencia, Negros Oriental – EDC operates one geothermal steamfield project in Southern Negros, which deliver steam to the two GCGI-owned Palinpinon geothermal power plants and EDCowned Nasulo geothermal power plant.
- Bacon-Manito, Albay and Sorsogon – EDC operates one geothermal steamfield project, which delivers steam to two geothermal power plants in Albay and Sorsogon owned by EDC’s subsidiary BGI.
- Mt. Apo, Kidapawan, Cotabato – EDC operates one geothermal steamfield project, which delivers steam to two EDC-owned geothermal power plants in Mt. Apo.