Energy Development Corp. (EDC), the renewable energy arm of Lopez-led First Gen Corp., is looking to boost its geothermal capacity by 85 megawatts (MW) as it completes drilling the last 11 wells under a three-year development plan.

“So far, we only have 11 wells remaining out of that 40 wells committed from 2024 to 2026, six of which will be exploredthis year and the other five next year,” EDC President and Chief Operating Officer Jerome H. Cainglet said in a recent media interview.
“We are hoping—based on our budget—our estimate is around an additional 85 megawatts just from those new wells. While some wells failed, others performed better than expected, so we think we're going to exceed that,” he added.

The 40-well commitment is part of a P30-billion investment to grow EDC’s geothermal output. Cainglet described it as a“massive, big campaign” to expand the company’s footprint in clean energy.

Beyond this program, EDC is also advancing greenfield geothermal prospects, particularly in Mindanao.

“We're looking at several greenfield geothermal projects. The most immediate one is Amacan and it's in Mindanao,” Cainglet said.

EDC currently operates over 1,464.5 MW of renewable energy capacity, accounting for nearly 20 percent of the country's total installed RE. Its geothermal facilities represent 80 percent of the country’s total, making the country the world's third-largest geothermal energy producer.