EDC bags 2.50-MW power supply deal

MANILA, Philippines — Lopez-led Energy Development Corp. (EDC) has signed a two-year contract to power the manufacturing operations of Citizen Machinery Philippines Inc.(CMP) in Tanuan, Batangas.

In a statement, the company said the contract for 2.5 megawatts (MW) of geothermal power will commence on Dec. 26, to be sourced from EDC’s BacMan Geothermal Project.

 “As a manufacturing company, Citizen Machinery Philippines desires to be supplied by stable and low-cost electricity, especially since our foundry consumes much power,”CMP president Akihide Kanaya said.

“EDC’s BacMan Geothermal Project meets these criteria,” he said.

Kanaya added that the company remains committed to give its customers the highest level of satisfaction as possible. 

“This includes making sustainable contributions to society through innovative manufacturing solutions, while recognizing our impact to the environment. Choosing to be powered by 100-percent renewable energy strongly supports this commitment,” the company official said.

CMP manufactures and assembles automatic lathe machines, which produces other machines for use in different industries.

EDC is a global geothermal energy industry pioneer and the Philippines’ largest renewable energy producer, delivering 1,472 megawatts of clean RE to the country in the form of hydro, solar and wind power.

Last month, EDC inked a two-year contract with global automotive parts company Continental Temic Electronics Philippines to provide 2.7 MW of geothermal power to the latter’s facilities in Calamba, Laguna.

EDC earlier reported a three percent decline in its net income to P6.4 billion from January to September due to higher operational costs.