THE Energy Development Corp. (EDC), the largest producer of geothermal energy in the Philippines and second largest in the world, is seriously considering expanding its operations abroad.
EDC Executive Vice President Ernesto Pantangco said the company is now studying its business expansion in Chile, Peru, and Indonesia.
Pantangco expressed confidence the geothermal energy projects in these countries will push through even as he announced that they have secured the services of New Zealand-based GNS Science International Ltd.
The EDC on Friday renewed its partnership with the GNS Science for advisory services in support of the company’s existing geothermal operations in the Philippines as well as its possible projects abroad.
“We wanted to make sure that our operations are according to international standards, we also wanted to review our reservoir services to make sure that everything is done according to international best practices so we renewed our partnership with GNS Science,” Pantangco told The Manila Times.
He added that since EDC is considering geothermal projects overseas, GNS Science would help in benchmarking their operations with international standards.
“We are looking at investments in Peru, Chile and Indonesia. We are looking at assistance GNS Science can offer us in our assessment of geothermal prospects in these countries,” he added.
Locally, Pantangco said, they also have growth plans one of which is the 50-megawatt expansion project in Davao province.
The new geothermal project called as Mindanao 3 will complement the two existing power plants being operated by EDC in the region.
“We are looking at expanding it to help assist in the power supply of Mindanao,” he said.
Apart from Davao, Pantangco said they also plan to expand the BacMan Geothermal Production Field in Sorsogon province.
“We are looking at two new geothermal fields where we have recent boreholes, and GNS is also helping us to assess the potential of these reservoir,” he added.
He said the BacMan expansion would generate at least 30-50 megawatts of power.
The EDC was formerly owned by the state-owned Philippine National Oil Co. (PNOC), and is engaged in the exploration of resources, production of energy, and distribution of power supply to smaller electricity distributors.
The company was later privatized and acquired by the Lopez group as part of its energy and power supply utility business units.