Energy Development Corporation (“EDC”) invites submission of qualifications and proposal data (collectively referred to as the “Proposal”) from interested U.S. firms that are qualified on the basis of experience and capability to execute a feasibility study for the development of a geothermal power plant, with a capacity of approximately 50 megawatts (MW) in Amacan in the Mindanao region of the Philippines. The deadline for submission of is 5:00 PM PHST (4:00 AM EST) on December 9, 2022. The U.S. firm selected will be paid in U.S. dollars from a grant provided by the U.S. Trade and Development Agency in the amount of Four Hundred Thirteen Thousand One Hundred and Twenty U.S. Dollars ($413,120).
About the Grantee
EDC was incorporated in the Philippines and registered with the Philippine Securities and Exchange Commission on March 5, 1976. Red Vulcan Holdings Corporation (“Red Vulcan”) is the parent company of EDC, while Lopez, Inc. is the ultimate parent company. Both Red Vulcan and Lopez, Inc. are incorporated in the Philippines.
EDC and its subsidiaries are primarily engaged in the business of exploring, developing and operating geothermal energy and other indigenous renewable energy projects in the Philippines. EDC has also developed and commissioned several geothermal projects. Currently, EDC has 1,181 MW of installed geothermal energy capacity in the Philippines.
Project Background
The Philippines is one of the top producers of geothermal power in the world due to the country’s location in a volcanic zone, with a total installed capacity of approximately 1.9 GW of geothermal power. Accordingly, geothermal energy is expected to continue to play a major role in the Philippines’ clean energy transition.
In order to encourage geothermal power development, the Philippines Department of Energy (“DOE”) selected and awarded Geothermal Service Contracts (“GSCs”) for pre-determined areas to qualified renewable energy developers through the Open and Competitive Selection Process (“OCSP”). The areas were chosen based on potential geothermal resources as determined by DOE’s technical data and research. The GSCs are issued for exploration, development and utilization of geothermal power, covering the entire life of the plant from pre-development to construction and operation. Under the OCSP, EDC received exclusive rights for geothermal power at the Amacan site, which will be the subject of the study. The Amacan site is on the eastern coast of the island of Mindanao in southern Philippines.