Energy Development Corp. (EDC), the Phillipines largest geothermal developer, said it executed on Thursday shareholders’ agreements (SHA) and ancillary documents with Hot Rock Ltd. (HRL) of Australia.
In a disclosure to the Philippine Stock Exchange, EDC said the agreement will set up project companies for each of the Longavi geothermal concession in Chile, and the Chocopata and Quellaapacheta geothermal authorizations in Peru.
The project companies will allow the joint venture to commence exploration activities at the said sites.
