THE PRESIDENT S REPORT

Transcription

1 THE PRESIDENT S REPORT Annual Stockholders Meeting the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 1

2 To My Fellow Stakeholders, That was Typhoon Yolanda on account of the devastation it brought to our major assets in Leyte as well as its tragic consequences throughout the region. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 2

3 But at EDC and other companies in the Lopez Group, the impact of a calamity is not what defines us. We have always been defined by what we do and how we act under the circumstances, guided by our cherished Lopez Values. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 3

4 Immediately after Yolanda hit on the morning of November 8, we organized and dispatched rescue teams from EDC in Bacman to search and account for all our employees on the ground inleyte. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 4

5 In addition, EDC, First Gen employees and their families set up a significant relief packing and distribution operation in Cebu to assemble supplies that would be needed by affected employees. We did all these despite the absence of contact with anyone in Leyte, and we presumed that the worst had occurred. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 5

6 Our worst fears materialized and the real picture unfolded when President Ricky Tantoco and a group of executives from First Gen and EDC flew to Ormoc and Kananga and linked up with our employees two days later. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 6

7 Not only were our power plants rendered inoperable.. (1/3) the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 7

8 Not only were our power plants rendered inoperable.. (2/3) the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 8

9 Not only were our power plants rendered inoperable.. (3/3) the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 9

10 .. but the devastation and suffering throughout our host communities was immeasurable. (1 /4) the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 10

11 .. but the devastation and suffering throughout our host communities was immeasurable. (2/4) the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 11

12 .. but the devastation and suffering throughout our host communities was immeasurable. (3/4) the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 12

13 .. but the devastation and suffering throughout our host communities was immeasurable. (4/4) the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 13

14 That week, the EDC Crisis Management Committee (CMC) was formed with President Ricky as Chair and First Gen SVP Lito Santos as Vice Chair. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 14

15 We spared no time and expense in mobilizing landing barges, jet aircraft and helicopters from Manila and Cebu to bring in. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 15

16 . the much-needed food, water, water purification tablets, medical supplies, tarpaulins, tents, blankets, mosquito nets and repellents, candles, solar lights and chargers, and even generator sets (gensets) and diesel, among others. Most of these were initially for our employees and their families who were very much victims themselves. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 16

17 But within a few days, once all 743 employees were located and accounted for and their needs met the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 17

18 .we quickly turned towards helping the local governments ofour host communities.. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 18

19 Ormoc and Kananga. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 19

20 We brought in five large gensets supplied with more than 22,435 liters of fuel. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 20

21 . to light up the municipal halls of Ormoc and Kananga,. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 21

22 .. two hospitals.. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 22

23 .. and the Ormoc water district pumping stations to enable water service to almost 80% ofthe city. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 23

24 But our actions did not stop there. Our EDC employees onthe island, despite still not having complete roofs over their heads, went on to become the backbone of our Leyte-wide relief efforts. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 24

25 That effort mobilized relief goods, supplies and medical assistance from EDC,. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 25

26 ..ABS-CBN s Sagip Kapamilya and the Department of Social Welfare and Development (DSWD) and used all our owned or leased sea, air and land assets.. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 26

27 to ultimately provide more than 10.7 million meals to more than a million affected lives. More than those sheer numbers, EDC s actions and those of countless others who selflessly gave during the early critical weeks. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 27

28 provided hope at a time when so many needed it most. Many people today ask us why we did what we did. Why, despite the massive damage to our assets onthe island.. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 28

29 . did we double up our efforts not only in the rehabilitation of our power plants... but also toward mobilizing massive resources for the relief effort? I could only reply that if you had seen the devastation and suffering we saw of our host communities, the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 29

30 . then you would realize it was but human to do so. Yet somehow we are still left with the sense that maybe we could have done more or maybe we could have moved sooner. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 30

31 Two years ago, we took the initiative of setting up the Oscar M. Lopez Center for Climate Change Adaptation and Disaster Risk Management Foundation (OML Center). the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 31

32 It was because we were keenly aware that our country ranks one of the 10 nations in the world most vulnerable to the ravages of climate change. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 32

33 This stems not only from the extreme changes in our weather patterns but also from the fact that massive poverty and the location of our towns and cities along unsuitable geohazard areas combine to exacerbate the difficulties of adapting to a new normal. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 33

34 Thus, the OML Center was established to enable and help accelerate the ability of our country to recognize the impacts of climate change and adapt effectively. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 34

35 Yet, as we witnessed the fury of a Yolanda and the devastation it inflicted on an unprepared populace., the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 35

36 . again we were left with a sense of urgency that we should be doing more and moving even quicker. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 36

37 We continue to help our host communities as they rebuild their lives from the rubble but, in addition, the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 37

38 . EDC will now place even greater emphasis on disaster preparedness and disaster response not only for ourselves as a company but for our host communities and local governments as well. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 38

39 In many ways, however, I have seen how this crisis has toughened us as a company. I saw not only how the bonds with our host communities have been strengthened but also how we overcame huge obstacles in bringing our plants back online five months ahead ofschedule. Although Yolanda has been the event that overshadowed many others last year, we continue to push hard on taking EDC up to yet another level this year. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 39

40 The much-awaited rehabilitation of Bacman Units 1 and 2 will be completed by the fourth quarter this year and the first quarter of 2015, respectively; the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 40

41 . the transfer of our 45 MW Negros plant to Nasulo is also moving briskly and will be completed by the end of second quarter this year; the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 41

42 ..our 87MW Burgos Wind farm will also see completion before year s end, with its capacity upgraded to 150MW by March the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 42

43 Our international projects are also moving at a quick pace with solid developments in Latin America and Indonesia. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 43

44 President Tantoco and I like to talk about how EDC is in midstream of a 10-year transition to being a global and diversified renewable energy company. The journey thus far has not been without trial and adversity but it s in the midst of such challenges that I ve seen. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 44

45 .. the men and women of EDC come alive and shine. Those moments leave me in no doubt about its upward trajectory and where we are all headed. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 45

46 To all our stakeholders, thank you for your unwavering support to the company and its management team. the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 46

47 THE PRESIDENT S REPORT Annual Stockholders Meeting the prior written consent of EDC. EDC and its logo are registered trademarks of Energy Development Corporation. 47