Philippines: Energy Development Corp. Allocates Over P7 Billion to Improve Reliability of Geothermal Power Plants

EDC allots P7 B capex for 2019 (Philstar)

Lopez-led Energy Development Corp. (EDC) has allocated over P7 billion in capital expenditures (capex) this year to improve the reliability of its geothermal facilities.

The company’s 2019 capex amounts to approximately P7.45 billion, based on a regulatory filing.

About 88.11 percent or P6.56 billion, will finance acquisitions to support the operations and maintenance requirements of the geothermal plants in Leyte, Negros Island, Bacon-Manito and Mt. Apo.

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