EDC Acquires 70% Stake in Geothermal Projects in Chile, Peru

Energy Development Corp. (EDC), the Philippines’ largest geothermal company, said it acquired a 70 percent stake in four projects in Chile and Peru.

Energy Development and Hot Rock Limited of Australia signed a joint venture agreement to develop the projects, the Philippine company said in a disclosure to the stock exchange.

To contact the editor responsible for this story: Cecilia Yap at cyap19@bloomberg.net

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