EDC PR 2016

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EDC at a Glance Filipino company Energy Development Corporation (PSE: EDC) is a global and diverse renewable power company with 40 years of pioneering sustainable practices. Committed to a purely renewable portfolio, the company operates 1,169 MW of geothermal, 150 MW of wind, 132 MW of hydroelectric power, and 6.8 MW of solar — delivering a total of 1,457.8 MW (gross) of clean and renewable energy. EDC holds the position as the Philippines’ premier geothermal company. Since 1976, we have harnessed indigenous, naturally occurring geothermal reservoirs. With strategic geothermal business units now operating throughout the Philippines, located in Bicol, Leyte, Negros Island, and Mindanao, the company is a recognized world leader in wet steamfield technology. At the heart of our operations is the need to preserve our natural heritage so that Filipinos can continue to enjoy their benefits and secure energy for future needs. With sustainability at the heart of our entire business value chain, we implement the same environmental and social practices and programs in all the business units to enhance the ecosystem, and uplift the lives of the residents in our host communities. Our driving motivation has always been to provide alternative energy solutions for the country. We also operate the biggest combined wind and solar farm in the region, located in Burgos, Ilocos Norte. Together with our hydro assets in Nueva Ecija, we are able to supply vital naturally sourced power to the Grid and bolster the Philippines’ economic growth prospects. At the heart of our operations is the need to preserve our natural heritage so that Filipinos can continue to enjoy their benefits and secure energy for future needs. 4 I Energy Development Corporation Performance Report 2016 102-1, 102-4, 102-49
4.16 MW Burgos Solar I 2.66 MW Burgos Solar II 120 MW Pantabangan 12 MW Masiway 150 MW Burgos Wind P P P CURRENT INSTALLED CAPACITY 1,457.8 MW Today, EDC is a diversified renewable energy company, with steamfields and power plant projects located across the Philippine archipelago. ne MW can light up 20,000 rural homes. 120 MW BacMan I 20 MW BacMan II 112.5 MW Tongonan P P 112.5 MW Palinpinon I 60 MW Palinpinon II* * 20-MW Nasuji Power Plant placed on preservation 49.4 MW Nasulo P P P P P P P 125 MW Upper Mahiao 232.5 MW Malitbog 180 MW Mahanagdong 50.9 MW Optimization P P LEGEND: P P Wind Solar Hydro Geothermal (EDC Subsidiary) P P P Geothermal (Integrated) Prospect Areas (Geothermal) Prospect Areas (Wind) Prospect Areas (Solar) 52 MW Mindanao I 54 MW Mindanao II SDG 2 102-2, 102-4, 102-49, EU1
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Page 7: 8,531.5 GWh clean power generated (
Page 10 and 11: Powering Infinite Possibilities @ 4
Page 12 and 13: Most tellingly, our stakeholders sh
Page 14 and 15: we wholeheartedly embrace the chall
Page 16 and 17: Vision We will become the global le
Page 18 and 19: Message from the Chairman and CEO D
Page 20 and 21: Installations of RE have doubled in
Page 22 and 23: Report of the President and COO Dea
Page 24 and 25: NIGBU posted its highest revenue at
Page 26 and 27: Our 232.5MW Malitbog Power Plant ha
Page 28 and 29: Report of the Chief Financial Offic
Page 30 and 31: it increased its revenues by 16 per
Page 32 and 33: Investors’ Nook By continuing to
Page 34 and 35: POWER THE FUTURE WITH RENEWABLES
Page 36 and 37: We were able to increase our power
Page 38 and 39: Features Our Climate-Resilient Powe
Page 40 and 41: Features Powering the Local Economy
Page 42 and 43: doing good is good business
Page 44 and 45: “Many shareholders, all they look
Page 46 and 47: company’s operations and our CSR
Page 48 and 49: EDC’s HELEn by the Numbers HEALTH
Page 50 and 51: Features Enhancing Youth Employabil
Page 52 and 53: Features Learning from Disaster: Th
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Features EDC’s 106MW Mindanao 1 a
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SURVIVAL OF THE GREENEST 56 I Energ
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Toward a Low-Carbon Economy Renewab
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Energy Intensity* (in million GigaJ
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of 2,113.4 tons CO 2 e, and Burgos
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the parameters used in the assessme
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to prevent or minimize generation o
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The BINHI Program In 2008, EDC, thr
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‘10M in 10’ movement plants one
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100 replacements for 1 tree On top
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Features Nurtured watersheds and ca
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Features the search is over BINHI T
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develop a futureready workforce 78
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Ours is an increasingly dynamic and
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Employee turnover The strategic wor
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Petroleum Engineering, Engineering,
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As part of EDC’s dedication to ta
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Features Young apprentices explore
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SAFETY IS A SHARED RESPONSIBILITY 9
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When it comes to prioritizing and p
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safety programs and activities are
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We train our host communities to be
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with the Philippine Red Cross, the
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OUR CORPORATE GOVERNANCE Values-Dri
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Lastly, the Enterprise Risk Managem
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• Policy on Mergers, Acquisitions
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The following tables show the votin
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In 2016, EDC’s customer appreciat
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service to the community. To improv
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Aside from the Code of Conduct and
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Name of director Direct Shareholdin
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Number of EDC Shares Name of direct
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from the powers and responsibilitie
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BOARD COMMITTEES’ FUNCTIONS AND A
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The Operations Committee deliberate
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Below is the total remuneration rec
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Board of Directors Oscar M. Lopez F
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Board of Directors Bernadette Ann V
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of IBM Solutions Delivery Inc., and
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Key Executives FEDERICO R. LOPEZ Ch
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Key Executives MARK D. HABANA Head
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MANUEL C. PAETE Vice President, Hea
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Memberships A Association of Safety
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Assurance Statement of the External
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the following which may help enhanc
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GRI Content Index GRI STANDARDS (
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Material Topics General Disclosures
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2016 Audited Consolidated Financial
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Compliance • We have monitored th
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156 I Energy Development Corporatio
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We have fulfilled the responsibilit
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Those charged with governance are r
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ENERGY DEVELOPMENT CORPORATION (A S
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Preferred Stock (Note 19) Common St
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Years Ended December 31 2016 2015 2
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Southern Negros, Valencia, Negros O
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EDC Drillco EDC Drillco is a compan
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Geotermica Chile SPA also incorpora
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Authorization for Issuance of the C
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These amendments are applied prospe
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Applicability of IFRIC 12, Service
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In August 2013, EDC Geotermica SpA
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Fair Value Measurement of Financial
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In 2011, EDC recognized full impair
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The factors that the Company consid
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Recognition of Deferred Income Tax
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Current versus Non-current Classifi
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In 2015, the functional currency of
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Construction in progress represents
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would have been determined, net of
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Classified under loans and receivab
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Derivative financial instruments ar
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the allowance account. Any subseque
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maturity or expected disposal date
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has expired, as well as the Parent
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Proceeds from Insurance Claims Proc
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Future Changes in Accounting Polici
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The Company is currently assessing
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oader review of the research projec
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LGBU NIGBU BGBU MAGBU Pantabangan/
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7. Trade and Other Receivables 2016
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The movements of the net accumulate
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12. Property, Plant and Equipment L
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Total borrowing costs capitalized t
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Bac-Man 3 Engineering Procurement a
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13. Goodwill and Intangible Assets
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Carrying amount of exploration and
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2015 Long term receivables Input VA
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The long-term debts are presented n
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The Parent Company capitalized in i
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₱8.5 billion GCGI Term Loan On Ma
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19. Equity Capital Stock As require
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On March 6, 2015, the BOD approved
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US$14.0 million thereafter up to 20
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Transactions for the years ended De
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Remuneration of Key Management Pers
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Net retirement and other post-emplo
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The following tables summarize the
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The Company expects to contribute
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Beginning of Year Charged to Income
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f. g. h. i. j. k. On June 29, 2011,
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Stock awards granted by the Committ
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Foreign Currency Risk Foreign curre
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US$ Japanese yen (JP¥) Sweden kron
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2015 Foreign Currency Appreciates (
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The following tables demonstrate th
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Financial Assets and Financial Liab
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The Company classifies its financia
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The table below shows the derivativ
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Pertinent details of the IRS are as
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The Company monitors capital using
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Legal Claims The Company is conting
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EDC also holds geothermal resource
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As of December 31, 2016, the Compan
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As of December 31, 2016, the Compan
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Ancillary Services Procurement Agre
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41. ULGEI Power Supply Agreements A
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EDC PR 2016

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