EDC to invest P30B in Leyte geothermal complex

Energy Development Corp. (EDC) will shell out about P30 billion to rebuild its Leyte geothermal complex, targeting a 700-megawatt capacity by 2029, as part of a multiyear program to raise capacity and replace aging facilities.

Starting this year, a new plant will be built to replace old units, lifting the operating capacity of the Leyte facility by 55 percent.

In a chance interview with reporters, EDC chief finance officer Erwin Avante said the company would focus on “reimagining” Leyte, particularly the upper Mahiao area, where two old units have already been decommissioned.

“The plan is to increase the capacity from, right now it’s operating less than 450 megawatts (MW), more or less,” Avante said.

For this year, EDC has set a capital expenditure budget of about P19 billion, lower than in previous years as the company winds down heavy drilling and completes most of its recent growth projects.

EDC said part of the spending would still go to drilling, with six wells planned, mostly in Leyte.

Aside from Leyte, EDC is also pursuing new geothermal prospects, including the Amacan project in Mindanao, which Avante said could benefit from the geothermal de-risking facility of the Department of Energy (DOE).

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“So, it’s a new exploration project that we have, and it will definitely help—especially because of the de-risking facility. I think it’s a good program by the DOE for new projects,” he said.

EDC is likewise upgrading its Palinpinon facilities, with plans to add around 12 MW of capacity.

Avante said the company’s outlook for 2026 remained positive, citing the contribution of newly drilled wells and operating projects to energy output and earnings.