Philippine Tycoon Federico Lopez-Led First Gen To Invest $407 Million In Geothermal Project
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- The proposed investment will optimize EDC’s 43-year old Southern Negros Geothermal Project (SNGP) while minimizing its environmental footprint, First Gen said in a statement.
- The environmental impact of both projects are being assessed by the Department of Environment and Natural Resources before regulatory approvals are issued.
Learn more.This voice experience is generated by AI. Learn more.Geothermal power stations of EDC in the Philippines.Courtesy of EDCEnergy Development Corp. (EDC)—the renewable energy unit of tycoon Federico Lopez and his family’s First Gen Corp.—is deepening its investments in geothermal energy with plans to invest 25 billion pesos ($407 million) to upgrade one of its oldest power plants in the central Philippine island of Negros.
The proposed investment will optimize EDC’s 43-year old Southern Negros Geothermal Project (SNGP) while minimizing its environmental footprint, First Gen said in a statement. SNGP was commissioned in 1983 along with the Tongonan Geothermal Project in Leyte, also in central Philippines.
The SNGP proposal is on top of a separate 100-billion-peso project announced by EDC in January to upgrade and boost the capacity of the Tongonan geothermal complex, the company’s biggest facility, to 967.2 megawatts from 637.2 megawatts. The environmental impact of both projects are being assessed by the Department of Environment and Natural Resources before regulatory approvals are issued.