Energy Development Corporation (EDC)

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1. Company Information
Company Name	Energy Development Corporation (EDC)
Sector	Industrial		Incorporation Date		Mar 05, 1976
Subsector	Electricity, Energy, Power & Water		Number of employees		1,866 (Group Total)
Board of Directors	Chairman: Federico R. Lopez
Website / E-mail	http://www.energy.com.ph
2. Stock Information
Total Assets	137,749,100,077	Market Capitalization		104,177,775,600.00
Total Liabilities	80,883,691,032	Outstanding Shares		18,737,010,000
Retained Earnings	32,929,950,105	Listed Shares		18,750,000,000
Listing Date	Dec 13, 2006	Issued Shares		18,750,000,000
Board Lot	100	Free Float Level (%)		10.87%
Par Value	1.00	Foreign Ownership Limit		40%
3. Major Stock Holders (common shares)
RED VULCAN HOLDINGS CORPORATION Philippines Renewable Energy Holdings Corporation				40.03% 47.5%
4. Company Descriptions and Business Development
Notes 1. Macquarie lead Philippines Renewable Energy Holdings Corporation acquired 47.5% in late 2017. There is a rumor that it will be voluntarily delisted from the PSE. 2. RED VULCAN HOLDINGS CORPORATION is a wholly owned subsidiary of FGEN. 3. Related companies: LPZ, FPH, FGEN, EDC and ABS, ROCK 4. Oscar M. Lopez is the father of Federico R. Lopez; Ernesto B. Pantangco is the cousin-in-law of Oscar M. Lopez; and the wives of Federico R. Lopez and Francis Giles B. Puno are sisters.
Overview Energy Development Corporation is a geothermal energy industry pioneer and the recognized world leader in wet steam field technology. In the Philippines, EDC is the largest vertically integrated geothermal company, delivering 1,457.8MW of clean and renewable energy. EDC’s geothermal power projects engage in two principal activities: (i) the production of geothermal steam for use at EDC and its subsidiaries’ geothermal power plants, and (ii) the generation and sale of electricity through those geothermal power plants. EDC holds service contracts with the Department of Energy (DOE) corresponding to fourteen (14) geothermal contract areas, each granting EDC exclusive rights. The Company holds eleven (11) Wind Energy Service Contracts (WESC) and six (6) Solar Energy Service Contracts (SESC) with the DOE. Business LGBU NIGBU BGBU MAGBU Hydro Complex WINBU 15.3 8.1 3.1 2.5 2.2 2.8 45% 23.82% 9.12% 7.35% 6.47% 8.24% Most of its electricity generated is covered by long term Power Supply Agreement. Bilateral and WESM sales recorded P33.4 billions and contingency and dispatchable sales recorded P167 millions in 2016. It categorizes businesses into geographical segments as follows: Leyte Geothermal Business Unit (LGBU) Negros Island Geothermal Business Unit (NIGBU) Bacon-Manito Geothermal Business Unit (BGBU) Mt. Apo Geothermal Business Unit (MAGBU) Pantabangan/Masiway Hydro Complex Wind-Ilocos Norte Business Unit (WINBU) Subsidiaries / Associates / Affiliates / Joint Ventures EDC Geothermal Corp. (EGC) EDC Chile Limitada EDC Holdings International Limited (EHIL) EDC Wind Energy Holdings, Inc. (EWEHI EDC Bright Solar Energy Holdings, Inc. (EBSEHI) First Gen Hydro Power Corporation (FG Hydro, 60%) operates 132-MW PAHEP/MAHEP.