EDC seeks partners for international ventures

MANILA, Philippines - Lopez-owned Energy Development Corp. (EDC) is scouting for more international partners to support a plan to expand its operations abroad.

First Gen Corp. president Federico Lopez said they have been talking with several potential partners abroad. First Gen owns a majority stake in EDC.

Lopez said however, they have yet to firm out the discussions with these possible partners. “No project yet. But we’re scouting. A lot of these areas, a lot of these countries with geothermal potentials we’re looking at and visiting, we’re not at that point yet that we’ve partnered or gotten any concessions,” he said.

Lopez said they have also started to explore and visit areas where they could probably get some partnerships.

He said they are optimistic that they could partner with almost all geothermal companies in the world, boosting about EDC’s expertise in geothermal energy development.

“What I know is that almost all of them will welcome a partnership with EDC because from a technological, technical standpoint. EDC is probably one of the most advanced in the world, as far as geothermal. It’s probably the largest dedicated geothermal company in the world,” he said.

It would be recalled that EDC had been invited to bid for a geothermal drilling contract in Kenya.

EDC president & COO Richard Tantoco said there is nothing firm yet if they will accept the invitation.

“There’s nothing definite yet on this. But we have been invited to a bidding in Kenya,” Tantoco said.

Industry sources earlier said that EDC is also eyeing to participate in a geothermal drilling contract in Chile.

The company official said one of their main business focuses will be the expansion of its international exposure.

Earlier, EDC said it will establish its presence in Indonesia, South Asia and in the Middle East.

EDC had set up a representative branch in Indonesia as part of the initial move to explore geothermal development business in that country.

At present, EDC has drilling operations in Lihir Gold Ltd., in Papua New Guinea (PNG).