International Finance Corporation (IFC), the private lending arm of the World Bank, is considering extending a loan of $90 million to Energy Development Corporation (EDC), an integrated geothermal steam and electric power producer in the Philippines.
The loan would help with capital expenditures including the balance of work related to the recovery of service of the geothermal power plants in Leyte that were affected by the July 2017 earthquake, according to IFC’s disclosure.
Some of the proceeds will go towards supporting the company’s capital requirement and other corporate purposes for existing geothermal operations in 2018.
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From the Global Geothermal News archives:
- Tuesday, December 19, 2017 - Philippines: Leyte Geothermal Power Plants Hit by Typhoon Urduja
- Wednesday, November 15, 2017 - Philippines: EDC Brings Leyte Geothermal Power Plants Back Online After Earthquake
- Friday, July 7, 2017 - Philippines: Geothermal Power Plants Knocked Offline by Earthquake