Energy Development Corporation (or simply EDC) is a renewable energy company in the Philippines. It is involved in alternative energy projects, including geothermal, hydroelectric and wind energy projects.
The company was formerly owned by the Philippine National Oil Company (PNOC), a corporation owned by the Philippine government. EDC was privatized and acquired by the Lopez Group in 2007.
History
The Energy Development Corporation (EDC) used to be a subsidiary of the state-owned Philippine National Oil Company (PNOC) established under Presidential Decree (PD) No. 334 on November 9, 1973 issued by President Ferdinand Marcos. EDC itself was established via PD No. 927 in 1976 to as the geothermal energy exploration and development arm of PNOC.[1][2] It was established as a response to the oil embargo by the OPEC member-states following the