By MYRNA M. VELASCO
Manila Bulletin
MANILA, Philippines — To fund its capital outlay, Lopez-controlled Energy Development Corporation (EDC) signed a new $75-million loan facility for a tenor of 15 years with the International Finance Corporation.
“The proceeds of the loans will be used to fund EDC’s medium term capex (capital expenditures) program,” the company has specified in its disclosure to the Philippine Stock Exchange.
The publicly-listed firm has lined up several investments to grow its portfolio in power generation, including those harnessing wind and hydro technologies; which serve as extension of its core expertise in geothermal.
Officials of its parent firm First Gen have indicated that the group’s capital program will mainly focus on EDC’s pipelined investments.
The company is finally moving ahead this year with its proposed 84-megawatt Burgos wind power project in Ilocos Norte, plus additional prospects of the same technology utilization in other sites.
Read here
Manila Bulletin
MANILA, Philippines — To fund its capital outlay, Lopez-controlled Energy Development Corporation (EDC) signed a new $75-million loan facility for a tenor of 15 years with the International Finance Corporation.
“The proceeds of the loans will be used to fund EDC’s medium term capex (capital expenditures) program,” the company has specified in its disclosure to the Philippine Stock Exchange.
The publicly-listed firm has lined up several investments to grow its portfolio in power generation, including those harnessing wind and hydro technologies; which serve as extension of its core expertise in geothermal.
Officials of its parent firm First Gen have indicated that the group’s capital program will mainly focus on EDC’s pipelined investments.
The company is finally moving ahead this year with its proposed 84-megawatt Burgos wind power project in Ilocos Norte, plus additional prospects of the same technology utilization in other sites.
Read here
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