Energizing PH For A Regenerative Future

After more than four decades of being a steward of pioneering sustainable practices, First Gen-owned Energy Development Corporation (EDC) remains fully energized in its resolve to not only provide the country with clean energy, but also build a regenerative future for the next generations.

The renewable energy powerhouse, which celebrated its 45th anniversary milestone last year, is far from letting up on its quest, especially with the effects of climate change worsening due primarily to human-caused emissions of burning fossil fuels.  

EDC, however, recognizes that sustainability is no longer good enough, and that a new approach to power forward will be needed in order to fight climate change.

The company strongly believes that businesses should urgently become a regenerative force that elevates everything they touch, including customers, employees, suppliers, contractors, environment, communities, and investors.

Instead of simply pursuing sustainability that seeks only to do less harm, EDC is integrating the values required by regeneration, which calls for a change in how things are done--from preventing activities and actions that create negative impacts to being a force for good.

"Beyond just halting any additional warming is the Herculean task of preserving, rebuilding, and more importantly regenerating the planet and everything we’re losing. This is why we believe sustainability is no longer enough in a world that’s badly in need of healing and renewal," EDC chairman and chief executive officer Federico Lopez said. 

"Being regenerative, however, isn’t just about renewing the environment. Above all else, it’s about healing the wounds inflicted on our communities and societies from decades of flawed economic thinking and the resulting policies that have widened inequalities making the dream of prosperity for billions of people even more out of reach," Lopez added.

In going beyond sustainability, EDC is investing in projects and programs that enhance the environment, elevate its partner communities, and advocate regenerative development.

As a major player in the country's energy industry, EDC stands behind 24/7 renewable as a climate solution by making clean and affordable energy accessible to the wider public. 

The company has been walking the talk when it comes to pioneering sustainable practices over the past four decades.

EDC has emerged as the country's leading 100 percent renewable energy producer with an installed capacity of 1,480 megawatts (MW), accounting for 20 percent of the country’s total installed renewable energy capacity. 

Its 1,184.85 MW geothermal capacity, which provides 62 percent of the country’s total installed geothermal power, is critical in helping balance the grid, supply significant baseload renewable energy, and even protect its power customer from external price shocks. This differentiates EDC’s Geo 24/7 brand of power from other sources of renewable energy.

But EDC is not stopping there, as further expansions for its geothermal assets are lined up in the next few years, as well as greenfield development in the medium to longer term. 

"By developing more geothermal plants, we gain advantage from the continuous renewable electricity production to supplement more intermittent sources such as wind and solar," Lopez said.

EDC, through First Gen, is also looking at significantly expanding its wind and solar portfolio in the coming years, as demand is seen coming not just from grid operators serving large urban areas, but also from offgrid communities with little or no access to 24/7 electricity, households looking to cut carbon emissions, and contestable customers operating commercial and industrial establishments.

EDC, through subsidiary EDC Burgos Wind Power Corp., owns and operates the 150-MW Burgos wind energy project, and the 6.82 MW Burgos solar project.  It also operates the 132-MW Pantabangan hydroelectric power plant in Nueva Ecija through First Gen Hydro Power Corp.

"In the same vein, we are pursuing energy efficiency schemes as well as taking stock of other technologies that will further advance our net zero goal," Lopez said.

On top of continuously beefing up its renewable energy portfolio, EDC has also laid the groundwork for its energy storage business through Project Aya, a 100-MW pumped-storage hydroelectric project in Nueva Ecija.

The project will have the ability to respond and stabilize grid operations as more intermittent plants come on to the grid.  Water will be pumped off-peak and then discharged for as long as 12 hours, shifting energy to when it is needed by the grid.

Also underway is work for the first three Battery Energy Storage System (BESS) projects of the company, which will be operational at the end of 2023.

Through these various projects, EDC is leading the nation in its necessary transition to clean energy and in co-creating a regenerative future.

But EDC understands that the transformation cannot be done by entities working alone. 

It emphasized the need for everyone to play unique, reciprocal, and synchronized roles in order to solve the problem that is climate change.

For businesses like EDC, this could be done by accelerating the shift to energy resources and greening the supply chain, while for individuals, this could be made possible through conscientious consumption.

"We need to have the same political will, science, and capital and deploy it against our greatest threat: climate change," EDC president and chief operating officer Richard Tantoco said. 

"In the end, we can only achieve our goal of decarbonization and regeneration if we continue to expand our collaborative efforts. EDC will do its part and play its role as we band together given we are running out of time to limit the coming devastation of climate change," Tantoco added.

EDC’s chosen path is seen as the only way to a destination where everyone has the opportunity to thrive and prosper in a healthy planet--one that puts the welfare of present and future generations as a foremost concern.