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Brix Lelis - The Philippine Star
May 27, 2025 | 12:00am
EDC, which turns 50 in 2026, is also set to conduct re-entry operations in previously drilled geothermal fields and carry out multiple workovers as part of its expansion efforts this year.
Businessworld / File
Ahead of golden year
MANILA, Philippines — Lopez-led Energy Development Corp. (EDC) is digging deep into expansion this year as it intends to drill 19 new geothermal wells ahead of its golden anniversary.
EDC, which turns 50 in 2026, is also set to conduct re-entry operations in previously drilled geothermal fields and carry out multiple workovers as part of its expansion efforts this year.
Through these initiatives, the renewable energy arm of the Lopez Group aims to deliver an additional 141 megawatts (MW) of clean power to the grid.
“This planned expansion will solidify our leadership in geothermal energy while responding to the growing demand for sustainable power solutions,” the company said.
It has also affirmed a commitment to hitting its drilling and operational performance targets with “precision and efficiency.”
EDC is currently the largest geothermal player in the Philippines, owning and operating 13 power plants running on geothermal power.
These facilities have an aggregate installed capacity of about 1,200 MW, equivalent to roughly 60 percent of the country’s geothermal capacity.
“In our road to 50, 2025 will be a pivotal year. It will be a time to reap the benefits of our long-term efforts and set the stage for what’s ahead,” EDC said.
Last year, EDC earmarked around P24 billion to develop four geothermal projects across the country.
These projects include the 29-MW Palayan binary plant and the 20-MW Tanawon plant in Bicol, as well as the 5.6-MW Bago binary facility in Negros Occidental and the 28-MW Mahanagdong plant in Leyte.
EDC president and COO Jerome Cainglet said the Tanawon plant was synchronized to the grid in February, while the Mahanagdong plant is now under testing and commissioning.
The Palayan plant was activated last year, while the Bago facility reached mechanical completion in the fourth quarter of 2024.
“EDC remains steadfast in driving growth and delivering value as we ensure that every step we take brings us closer to a more resilient and regenerative future,” Cainglet said.
For its drilling program this year, EDC has kept its investment figures under wraps.
But Energy Undersecretary Rowena Cristina Guevara earlier estimated around $6 million to $8 million to drill one hole for geothermal exploration.
The high cost has prompted the government to launch a de-risking strategy aimed at cost-sharing exploration drilling with qualified developers.
For this purpose, the Marcos administration is seeking a loan from the Asian Development Bank this year to fund the initiative.
