Energy Development Corporation
Energy Development Corporation is a Philippine renewable-energy company focused on geothermal power, with additional hydroelectric and wind-energy operations.
Last updated August 26, 2026
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Overview
Energy Development Corporation, commonly known as EDC, is a Philippine renewable-energy company whose principal business is the exploration, development, operation and management of geothermal power resources. It also participates in hydroelectric and wind-energy projects. The company traces its institutional origins to the Philippine government’s effort to develop domestic energy resources after the oil-price and supply disruption associated with the OPEC embargo that followed the Yom Kippur War. EDC was created in 1976 through Presidential Decree No. 927 as the geothermal exploration and development arm of the Philippine National Oil Company, itself established by Presidential Decree No. 334 in 1973. In its early decades, the company helped build the Philippine geothermal industry. It commissioned the Tongonan and Palinpinon geothermal plants in 1983 and later brought the BacMan geothermal facility into service. These projects established EDC as an important operator of indigenous, non-fossil electricity generation in the Philippines. The company moved from state ownership toward private ownership in the 2000s. EDC conducted an initial public offering in late 2006 and became listed on the Philippine Stock Exchange. In 2007, First Philippine Holdings Corporation of the Lopez Group acquired control, making EDC part of the group’s broader energy portfolio. Following privatization, EDC acquired from the national government the power-generation properties that it had developed, including the Tongonan and Palinpinon geothermal stations in 2009 and the BacMan station in 2010. EDC’s operating portfolio has included major Philippine geothermal assets such as Tongonan, Palinpinon, BacMan, Malitbog and Mount Apo. Through affiliates, it has also been associated with the Pantabangan and Masiway hydroelectric plants in Nueva Ecija and the Burgos Wind Farm. The Tongonan and Palinpinon facilities have been operated through Green Core Geothermal, Inc., while First Gen Hydro Power Corp. has operated the Pantabangan and Masiway hydroelectric facilities. This structure connects EDC with the Lopez Group’s wider electricity-generation businesses while preserving a distinctive focus on renewable and alternative energy. A notable operational setback occurred at BacMan, which was shut down in 2009. The facility was restored and returned to full operation by 2014. EDC also began developing an international presence in 2012 when it received the Newen geothermal concession in Chile. Its business identity therefore combines Philippine geothermal expertise, ownership and operation of renewable-generation assets, and selective expansion into overseas geothermal opportunities. Based on the available reference material, EDC remains an active renewable-energy company and a major participant in the Philippine geothermal sector.
History
Energy Development Corporation developed from the Philippine state’s response to the energy insecurity created by the oil embargo following the Yom Kippur War. The Philippine National Oil Company was created in 1973 under Presidential Decree No. 334. Three years later, Presidential Decree No. 927 established EDC as PNOC’s specialized geothermal exploration and development arm. Its mandate reflected the government’s aim of using domestic energy resources to reduce dependence on imported oil. During the 1980s, EDC moved from exploration into large-scale power generation. It commissioned the Tongonan and Palinpinon geothermal plants in 1983. These facilities became central elements of the Philippine geothermal sector and helped establish geothermal energy as a significant source of domestic electricity. In the 1990s, EDC commissioned the BacMan Geothermal Power Plant, adding another major geothermal resource to its portfolio. The company’s ownership changed during the privatization initiatives of the 2000s. EDC completed an initial public offering in late 2006 and was listed on the Philippine Stock Exchange. In 2007, First Philippine Holdings Corporation, a member of the Lopez Group, acquired the company. The post-privatization EDC subsequently acquired from the national government the generation properties it had developed. The Tongonan and Palinpinon stations were transferred in 2009, followed by the BacMan station in 2010. BacMan experienced a significant operational interruption when the plant was shut down in 2009. Rehabilitation and related work eventually enabled the facility to return to full operation by 2014. The asset remained part of EDC’s geothermal portfolio alongside Tongonan, Palinpinon, Malitbog and Mount Apo. EDC’s renewable-energy activities have not been limited to geothermal power. Its affiliated businesses have operated the Pantabangan and Masiway hydroelectric plants in Nueva Ecija, while the company’s listed power assets also include the Burgos Wind Farm. Green Core Geothermal, Inc. has operated the Tongonan and Palinpinon geothermal facilities, and First Gen Hydro Power Corp. has operated the two Pantabangan-area hydroelectric plants. These relationships place EDC within the Lopez Group’s broader energy businesses. The company also pursued international geothermal opportunities. In 2012, EDC received the Newen geothermal concession area in Chile, marking an overseas expansion of its geothermal development activities. Overall, the available history presents EDC as a formerly state-owned Philippine geothermal pioneer that became a publicly listed, Lopez Group-controlled renewable-energy company with geothermal at its core and hydroelectric, wind and international development activities alongside it.
- 2014
BacMan fully operational again
[1]The BacMan facility returned to full operation after its 2009 shutdown.
- 2012
Newen geothermal concession granted
[1]EDC received the Newen geothermal concession in Chile, beginning a documented overseas expansion.
- 2007
Acquisition by the Lopez Group
[1]First Philippine Holdings Corporation acquired control of EDC.
- 2006
Initial public offering
[1]EDC completed an initial public offering and was listed on the Philippine Stock Exchange.
- 1990
BacMan geothermal generation added
[1]EDC commissioned the BacMan Geothermal Power Plant during the 1990s.
- 1983
Tongonan and Palinpinon commissioned
[1]EDC commissioned two major geothermal plants at Tongonan and Palinpinon.
- 1976
EDC created as PNOC geothermal subsidiary
[1]Presidential Decree No. 927 established EDC to lead geothermal exploration and development for PNOC.
- 1973
Philippine National Oil Company established
[1]Presidential Decree No. 334 created PNOC, the state-owned corporation that later served as EDC’s parent organization.
Products and positioning
A Philippine renewable-energy company positioned around geothermal power and the development of indigenous, lower-carbon electricity resources, complemented by hydroelectric and wind assets.
Renewable electricity · 1983
Geothermal power generation
Geothermal generation is EDC’s defining business. The company develops geothermal resources and operates or affiliates with facilities including Tongonan, Palinpinon, BacMan, Malitbog and Mount Apo. These assets use naturally occurring underground heat to produce electricity and represent the company’s principal contribution to the Philippine renewable-energy sector.
Renewable electricity
Hydroelectric power generation
Through First Gen Hydro Power Corp., an EDC affiliate, the group operates the Pantabangan and Masiway hydroelectric power plants in Nueva Ecija. The facilities broaden EDC’s renewable-generation portfolio beyond geothermal energy and use water resources to supply grid electricity.
Renewable electricity
Wind power generation
Wind generation is represented in the documented portfolio by the Burgos Wind Farm. It complements EDC’s geothermal and hydroelectric activities and supports the company’s broader positioning as a renewable-energy producer.
International geothermal development · 2012
Newen geothermal concession
The Newen concession in Chile marked EDC’s documented move into international geothermal development. It extended the company’s geothermal resource expertise beyond the Philippines and provided an overseas platform for exploration and project development.
Brand decisions
2012
International geothermal expansion into ChileStrategyBackground
After establishing a substantial Philippine geothermal portfolio, EDC pursued opportunities outside its home market.
Action taken
The company was granted the Newen geothermal concession area in Chile.
Aftermath
The concession marked EDC’s documented expansion into overseas geothermal development.
2009
BacMan shutdown and rehabilitationOtherBackground
The BacMan geothermal plant was shut down in 2009 during the period when EDC was consolidating and acquiring its formerly state-developed assets.
Action taken
EDC undertook the work necessary to restore the facility and later brought it back to full operation.
Aftermath
BacMan was fully operational again by 2014.
2007
Transfer from state ownership to Lopez Group controlM&ABackground
EDC had been a subsidiary of the Philippine National Oil Company and was privatized through a public offering and subsequent control transaction.
Action taken
First Philippine Holdings Corporation of the Lopez Group acquired control of EDC.
Aftermath
EDC became part of the Lopez Group’s energy portfolio and later acquired several of its developed generation properties from the national government.
Recent events
EDC signs agreement to support Negros Oriental testing facility[2]
Reported:
Energy Development Corporation (EDC) formalized an initiative to help establish Negros Oriental's first molecular diagnostic center through a memorandum of agreement and deed of donation. The initiative involves provincial and municipal authorities and Negros Oriental Provincial Hospital.
- Unconfirmed
EDC receives National Occupational Safety and Health Champion recognition[3]
Reported:
Energy Development Corporation (EDC) was chosen as the National Occupational Safety and Health Champion at the Department of Labor and Employment’s 11th Gawad Kaligtasan at Kalusugan awards. The recognition was given to EDC’s Mount Apo Geothermal Project for its safety and health programs.
Sources3 sources
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