Energy Development Corp.

Energy Development Corp.

Energy Development Corp.

Date Founded



38/F One Corporate Centre,Julia Vargas corner Meralco Avenue,Ortigas Center,Pasig, Metropolitan Manila 1605

Type of Company


Employees (Worldwide)



Alternative Energy

Company Description

Energy Development Corp. is engaged in the exploration, development and operation of geothermal energy projects. It operates through the following business units: Leyte Geothermal, Negros Island Geothermal, Bacon-Manito Geothermal, Mt. Apo Geothermal, Pantabangan-Masiway, Wind-Ilocos Norte, and Others. The Leyte Geothermal business unit pertains to leyte geothermal production field and power plants. This includes projects in Tongonan, Mahanagdong, Upper Mahiao, Malitbog, ULGEI and other projects in Leyte Province. The Negros Island Geothermal business unit refers to southern negros geothermal production field and power plants. Power plants included in NIGBU are Palinpinon I and Palinpinon II and Nasulo. The Bacon-Manito Geothermal business unit relates to Bacon-Manito geothermal production field and power plants. The Mt. Apo Geothermal business unit refers to Mt. Apo Geothermal production field and power plants. The Pantabangan/Masiway relates to Pantabangan-Masiway hydroelectric complex located in Nueva Ecija province. The Wind-Ilocos Norte business unit pertains to both wind and solar projects commercially operating in Northern Luzon. The Others refers to other renewable energy projects including foreign investments and head office of the company. The company was founded on March 5, 1976 and is headquartered in Pasig, Philippines.

Executives & Employees

Chairman of the Board & Chief Executive Officer

Assistant Secretary

President & Chief Operating Officer

Senior Vice President/Chief Financial Officer/Treasurer

Chief Information Officer & Vice President

Chief Audit Executive

Vice President, Head of Bgbu Projects & Resource Exploration Management

Vice President for Business Development & Managing Director for Latin America

Senior Vice President, Environment & External Relations Sector

Senior Vice President, Steam Field Operations Sector

Board of Directors

Chairman & Chief Executive Officer at First Gen Corp.

President & Chief Operating Officer at First Gen Corp.

Former President & Chief Operating Officer at Energy Development Corp.

President & Chief Executive Officer at Cavitex Holdings, Inc

Executive Vice President & Chief Commercial Officer at First Gen Corp.

Chairman-Judicial System Working Group at National Competitiveness Council Philippines

Chief Executive Officer, Integrated Gas at Origin Energy Ltd.

Senior Vice President at First Philippine Holdings Corp.

Independent Director at Energy Development Corp.

Chief Executive Officer at Macquarie SBI Infrastructure Management Pte Ltd.

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Owners & Shareholders
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SSS is an active, team-based manager which focuses on opportunities that generate employment, fuel growth and create value and wealth. The firm typically seeks to invest in sectors such as forestry, mining and infrastructure while maximizing returns from government securities.

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GSIS's mission is to provide appropriate benefits and services to all members of the government of the Philippines' employees and their dependents. Their long-term and medium-term investment strategy focuses on diversification in terms of geography and asset class.^The fund managers comply with an absolute return mandate. Each fund manager has the flexibility to determine their investment strategy. They look for a mixture of global high dividend, global property securities, global fixed-income, and alternative investments.^GSIS actively pursues company-wide risk management.

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Atlantis Investment Management (Singapore) Pte Ltd., a subsidiary of Atlantis Investment Management Ltd., is a company headquartered in Singapore, Singapore. The firm provides investment advice. Joseph Wat is the CEO, in this role since 2008.

Recent Transactions
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Energy Development Corp. /Private Group purchases Energy Development Corp. from First Gen Corp.

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Energy Development Corp., Energy Development Corp. Hong Kong Ltd. purchase Hot Rock Holding Ltd. /Subsidiaries (2) from Hot Rock Holding Ltd.

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Philplans First, Inc. purchases Energy Development Corp. from First Philippine Holdings Corp.

Transaction Advisors

Advised onEnergy Development Corp. issued Ordinary Shares


Advised onEnergy Development Corp. issued Ordinary Shares


Advised onEnergy Development Corp. issued Ordinary Shares

Advisors & Consultants
Legal Advisor

Partner at SyCip Salazar Hernandez & Gatmaitan


First Gen Corporation (First Gen) is the leading clean and renewable energy company in the Philippines with an installed capacity of 2,763 megawatts (MW). It accounts for approximately 18 per cent of total installed capacity in the country today. First Gen was incorporated in December 1998 to become the primary holding company for the power generation and energy-related businesses of the Lopez Group. First Philippine Holdings Corporation (FPHC), parent and controlling shareholder of First Gen, became involved in the power generation industry in 1993 through its first major investment in power generation, Bauang Private Power Corporation (BPPC). On July 26, 2010, BPPC turned over its 225-MW diesel bunker power plant to the National Power Corporation / Power Sector Assets and Liabilities Management Corporation following the expiration of the 15-year Cooperation Period covering the project. The Bauang power plant was constructed pursuant to a Build - Operate - Transfer (BOT) Agreement executed by and among Napocor, BPPC and First Private Power Corporation (FPPC) in 1993. Located in Bauang, La Union, the plant is considered to be the largest bunker diesel power plant in the world. As of 2012, First Gen has a portfolio of 15 power generation plants that are predominantly contracted for sale under long-term power purchase agreements or other energy sales agreements. First Gen's power generation portfolios utilize indigenous fuels such as natural gas, water and geothermal steam. The Company's interests, direct and indirect, consist of the following: - A 100 per cent equity interest in the 1,000-MW Santa Rita natural gas-fired combined cycle power plant; - A 100 per cent equity interest in the 500-MW San Lorenzo natural gas-fired combined cycle power plant; -A 40 per cent equity interest or a 68 per cent effective economic interest, in the 132-MW Pantabangan-Masiway hydroelectric power plant complex; -A 100 per cent equity interest in the 1.6-MW Agusan mini-hydro; and -A 49 per cent equity interest in the 11 integrated geothermal and power projects owned by Energy Development Corporation. The projects have a combined capacity of 1,129.4 MW. First Gen ranked 33rd in gross revenues and 52nd in net income among BusinessWorld's Top 1000 Corporations in the Philippines (with consolidated financial statements) in 2011. As a world-class energy company, First Gen's Management System complies with standards set by the International Organization of Standards (ISO) of Geneva. An ISO 9001:2000 certification for Quality Management was first awarded to the Company in 2004. In 2009, First Gen underwent the rigorous recertification audit conducted on its standards by AJA Registrars (Phils.), Inc., the local affiliate of UK-based independent certification body AJA Registrars Limited. The recertification audit checked First Gen’s conformance with norms set under ISO 9001:2008 (Quality Management System). AJA Philippines completed the recertification audit without finding any nonconformance issues in the ISO processes of First Gen, thereby reaffirming First Gen's adherence to the highest standards set by the ISO.

Aboitiz Equity Ventures (AEV) listed in the Philippine Stock Exchange (PSE) in 1994 as the public-held holding company of the Aboitiz Family. Since its IPO, AEV has been recognized by various local and international surveys and publications as among the Philippines’ best managed companies. AEV has likewise received numerous awards for its corporate governance practices. AEV has three business groups, namely: power, financial services and food. Power business AEV’s holdings in the power business are consolidated into Aboitiz Power Corp. (AboitizPower), which listed at the PSE in 2007. AboitizPower is a leader in the Philippine renewable generation industry with investments in geothermal and hydroelectric generation assets located throughout the Philippines. AboitizPower also pioneered the systematic development of small hydroelectric generation plants back in late 1980’s. The development of greenfield or new renewable generation capacity remains a primary focus, as evidenced by the commissioning in 1Q 2010 of the 43-MW Sibulan hydro plant in Sta. Cruz, Davao del Sur. AboitizPower also has investments in non-renewable generation assets similarly located throughout the Philippines. These facilities are run using the very latest in operating and emission-mitigating technology, ensuring the least possible impact on the environment. AboitizPower also has investments in seven power distribution utilities, again located throughout the Philippines. These utilities are recognized for being innovative and customer-focused. As the power industry prepares for full deregulation and open access, AboitizPower also has a strong presence in the retail and power services businesses catering to current and future customers’ needs. Financial services business AEV’s holdings in the financial services business comprise majority shareholdings in UnionBank of the Philippines (UnionBank) and City Savings Bank (CitySavings). UnionBank is among the largest universal banks in the Philippines, with a network of XXX branches, and has consistently high profitability, solvency and liquidity ratios. It listed on the PSE in 1992. CitySavings is a thrift bank operating predominantly in Visayas and Mindanao which serves a very specialized niche market of creditworthy civil servants. Just like UnionBank, CitySavings boasts very high profitability, solvency and liquidity indicators. Expansion into Luzon has already begun with branches opened in Tarlac and Laguna. Food business AEV’s holdings in the food business are through its 100% ownership of Pilmico Foods Corp. Pilmico is a trusted Philippine manufacturer and marketer of flour and other baking products, feeds and is also engaged in swine growing. Pilmico has facilities located in Tarlac, Luzon and Iligan, Mindanao to serve a distribution network covering the entire country. Corporate Social Responsibility and Sustainability The Aboitiz Foundation incorporated in 1989 and spearheads CSR actuations of the Aboitiz Group. In 2009 alone, the Aboitiz Group undertook P416 million worth of projects in areas where Aboitiz business units operate. These efforts are focused in the areas of education, enterprise development and primary health and child care. The Aboitiz Group employs a triple bottom line approach where the three Ps—people, planet and profit—are considered with every business decision. The sustainability approach of the Aboitiz Group is anchored upon five pillars, namely: rejuvenate nature, reduce consumption, recycle or re-use, recharge communities and use of renewable energy wherever possible. The Aboitiz Group celebrates its 90th year as a corporation in 2010, having withstood many trials and tribulations throughout all those years. What best embodies the Aboitiz spirit is our brand promise of Passion for Better Ways. This has led to Aboitiz companies, our 31,000 team members, and products distinguishing themselves by having an intense customer focus, a propensity for innovation and continuous improvement, and employing world-class standards to produce quality in everything we do

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Vestas Wind Systems A/S Industrial Machinery & Manufacturing | Aarhus, CD

Vestas Wind Systems A/S engages in the development, manufacture, sale, and maintenance of wind power plants. It operates through the Project and Service business segments. The Project segment contains sales of wind power plants and wind turbines. The Service segment includes sale of service contracts, spare parts, and related activities. The company was founded by Smith Hansen and Peder Hansen in 1945 and is headquartered in Aarhus, Denmark.