EDC clarifies receipt of Certificate of Compliance for Burgos Wind Project from ERC

February 21, 2015 12:34 am 

By Juzel L. Danganan

MANILA, Feb. 20 (PNA) – – The Energy Development Corporation (EDC) has clarified it has not yet received the Certificate of Compliance (COC) for the 150-Megawatt (MW) Burgos Wind Project (BWP) from the Energy Regulatory Commission (ERC).

“We wish to further clarify that the Company has not yet received the Certificate of Compliance for the Burgos Wind Project from the ERC,” EDC said in a disclosure with the Philippine Stock Exchange (PSE) Friday.

It stressed the press release, which commonly has several versions, was mistakenly released on February 19.

”Press releases are usually prepared in advance and in several versions, so that the appropriate one may be chosen at the correct time and immediately uploaded within minutes of the event in order to comply with PSE rules. In this case, however, there was a lapse in procedure and the unapproved draft press release was mistakenly released,” EDC said.

On Thursday, EDC said the ERC already granted the COC, even praising the regulatory office for its transparent and predictable regulatory regime, stating its actions will help stir up more Renewable Energy (RE) investments.

The COC serves as the official document that EDC is approved for the Feed-In-Tariff (FIT), which serves as the payment system for RE-based capacities. It also allows BWP to be included among those plants to be used first.

Meanwhile, ERC Executive Director Atty. Francis Saturnino Juan told PNA Friday the ERC has already granted the COC to EDC.

EDC is one of the world’s largest geothermal energy companies, with investments reaching other countries such as Peru, Chile and Indonesia.

Its local plants includes the Bacman Geothermal Production Field, Mindanao Geothermal Production Field, Northern Negros Geothermal Production Field, Southern Negros Geothermal Production Field and the Leyte Geothermal Production Field. (PNA)

LGI/JLD/SGP

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