EDC Inks JV Agreement with Alterra Power

Pasig—(PHStocks)—Energy Development Corporation (PSE: EDC) has signed a joint venture (JV) agreement with Alterra Power Corp., a Canada-based renewable energy company, covering the Mariposa Project in Chile and three geothermal projects located in Peru, namely Tutupaca, Loriscota and Crucero.

The agreement sets the framework and main commercial principles for EDC’s potential acquisition of a 70% interest in each of the four projects. Completion of the transaction remains subject to the preparation of fully termed documentation and necessary regulatory approvals.