{"id":329971,"date":"2024-10-17T01:01:21","date_gmt":"2024-10-16T17:01:21","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329971"},"modified":"2024-10-17T01:01:23","modified_gmt":"2024-10-16T17:01:23","slug":"trade-the-news-edc-eyes-p25b-for-geothermal-project-expansion","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-edc-eyes-p25b-for-geothermal-project-expansion\/","title":{"rendered":"Trade the News: EDC eyes P25B for geothermal project expansion"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Energy Development Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>EDC<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 158.00<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Energy Development Corp. (EDC) plans to allocate P25 billion for the expansion of its 282.5-megawatt (MW) Southern Negros Geothermal Project (SNGP) in Negros Oriental.<\/p>\n\n\n\n

\u201cThis covers the cost of drilling new wells, the expansion of existing pads, and the construction of new pads, road networks, pipeline routes and other support structures, as necessary,\u201d EDC said in a document submitted to the Department of Environment and Natural Resources.<\/p>\n\n\n\n

The estimated amount also includes the budget for emerging technologies, it said.<\/p>\n\n\n\n

EDC secured its environmental compliance certificate (ECC) in 2017 for a 5,163-hectare project development block. It includes facilities and activities to attain, sustain and support the operation of geothermal power plants.<\/p>\n\n\n\n

A minor amendment was issued in July 2023 for the inclusion of a 30-megawatt-hour battery energy storage system, which consists of a transmission system to connect SNGP to a substation.<\/p>\n\n\n\n

The company is currently applying for an ECC amendment for the steamfields of the SNGP, proposing a change in the boundary\/shape of the development block and a reduction from 5,163 hectares to 4,027.59 hectares.<\/p>\n\n\n\n

\u201cThe 4,027.59 hectares proposed development block will allow drilling of new geothermal wells and construction of new infrastructure and facilities to provide make-up and replacement steam to sustain the operation of the Nasuji Power Plant, Palinpinon Geothermal Power Project (PGPP) Units I, II and Nasulo Geothermal Power Plant, and other possible future developments,\u201d EDC said.<\/p>\n\n\n\n

Meanwhile, the project area is also proposed for expansion from 151.5 hectares to 400 hectares to support additional infrastructure and operational requirements.<\/p>\n\n\n\n

Out of its allowable 282.5-MW steam field capacity, SNGP is operating at 241.8 MW through its existing 94 wells and 32 well pads.<\/p>\n\n\n\n

The operating plants currently have a total dependable capacity of 221.8 MW. All power generating units are operating at their installed capacity except for the Nasuji geothermal power plant under PGPP-II, which is under preservation mode due to steam availability constraints.<\/p>\n\n\n\n

EDC intends to operate the Nasuji power plant by drilling additional geothermal wells to supply steam to the plant. It is seeking to add eight wells and two well pads in total.<\/p>\n\n\n\n

(News Source: Business World<\/a>)<\/em><\/p>\n\n\n\n

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This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329971","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329971","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329971"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329971\/revisions"}],"predecessor-version":[{"id":329973,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329971\/revisions\/329973"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}