Energy Development Corporation (EDC) has received the Securities and Exchange Commission (SEC) approval to issue up to PHP10 billion in ASEAN green bonds in the Philippines. The bonds will help expand EDC’s renewable energy (RE) portfolio, supporting economic growth and decarbonisation goals. Interest rates are set at 6.7478 per cent for three years, 6.8873 per cent for five years, and 7.0626 per cent for seven years.
The bond issuance is part of EDC’s PHP60 billion investment program for the next three years till 2027, funding geothermal and battery projects. The bonds are available from May 13 to 17, 2024.
EDC has a total capacity of 1,464.5 MW, including 1,170 MW of geothermal, 150 MW of wind, 132 MW of hydro, and 12 MW of solar. EDC holds 18 per cent of the Philippines’ RE capacity and 60 per cent of its geothermal capacity as of 2022.
