Energy Development Corporation

38
th
Floor, One Corporate Centre Building, Julia Vargas corner Meralco Avenue
Ortigas Center, Pasig 1605, Philippines
Trunklines: +63 (2) 667-7332 (PLDT) / +63 (2) 755-2332 (Globe)


October 17, 2014



JANET A. ENCARNACION
HEAD, Disclosures Department
The Philippine Stock Exchange, Inc.
Philippine Stock Exchange Plaza
Ayala Triangle, Ayala Avenue, Makati City



Dear Ms. Encarnacion:

In compliance with the disclosure requirements of the PSE, we submit the attached press release
entitled EDC secures $315M financing for Burgos Wind.

Thank you.























Energy Development Corporation
38
th
Floor, One Corporate Centre Building, Julia Vargas corner Meralco Avenue
Ortigas Center, Pasig 1605, Philippines
Trunklines: +63 (2) 667-7332 (PLDT) / +63 (2) 755-2332 (Globe)
Press Release
October 17, 2014


EDC secures $315M financing for Burgos wind project

Lopez-led Energy Development Corporation (EDC) signed a $315 million financing
agreement with a group of foreign and local banks for the construction of the 150-MW
Burgos Wind Project (BWP) in Ilocos Norte. The facility which consists of US dollar
and Philippine peso tranches will mature in 15 years.

Eksport Kredit Fonden, Denmarks export credit agency, guaranteed a part of the dollar
loan component. The Mandated Lead Arrangers for the foreign tranche are Australia and
New Zealand Banking Group Limited (ANZ), DZ Bank AG, ING Bank NV, Malayan
Banking Berhad (Maybank) and Norddeutsche Landesbank Gironzentrale. The local
tranche, meanwhile was arranged by PNB Capital and Investment Corporation and SB
Capital Investment Corporation among a syndicate of local lenders namely BDO
Unibank, Inc., Land Bank of the Philippines, Philippine National Bank, and Security
Bank Corporation.

This fresh loan is a sign of confidence from funding institutions on EDCs ability to
execute a strategic business plan for our wind project amidst intense competition in the
renewable energy industry. With construction in full swing, we are confident that we
will meet our target commissioning date and avail of the Feed-in-Tariff, EDC President
and Chief Operating Officer Richard Tantoco said.

The BWP aims to be the first wind project to avail of the Feed-in-Tariff (FIT) which the
Department of Energy will grant to 200 MW of wind projects on a first to commission,
first served basis. Its entire electrical output is intended to be sold under the FIT system
pursuant to the Renewable Energy Act of 2008.

Once operational, the BWP will be the largest wind farm in the Philippines comprising a
total of 50 large scale Vestas V90-3.0MW wind turbines and ancillary plant to be
supplied and constructed by Vestas, the worlds leading wind turbine manufacturer.
Aside from the wind farm, the project also includes a 115 kV transmission line
connecting the wind farm from the Burgos substation to the Laoag substation of the
National Grid Corporation of the Philippines (NGCP), as well as the expansion of the
switchyard/substations.

This project underlines EDCs strategy to be the countrys leading diversified
renewable power company. As we provide 370 GWh of electricity to power
approximately 2 million households, we also will displace about 200,000 tons of carbon
emissions annually, Tantoco added.

The BWP is one of the largest investments to date in Ilocos Norte. It occupies a 600
hectare site covering three barangays, namely, Saoit, Poblacion and Nagsurot, in Burgos,
Ilocos Norte. It is also EDCs first wind power project after establishing itself as the
countrys leading geothermal producer.