LOPEZ-LED Energy Development Corp. (EDC) reported a 24 percent growth in consolidated recurring net income in the first quarter driven by higher average prices from its key geothermal units and higher generation volumes of its Unified Leyte geothermal plants and Burgos wind farm.

In a disclosure to the Philippine Stock Exchange (PSE) on Monday, EDC said consolidated recurring net income attributable to equity holders of the parent grew to P3.25 billion in the first quarter from P2.63 billion in the same period last year.

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