Energy Development Corp., an affiliate of First Gen Corp., will speed up the rehabilitation of the 150-megawatt Bacon-Manito geothermal power plant by the second half of next year, an official said Thursday.
“BacMan’s the one we’re really rushing. We’re trying to make sure it comes online. Our target is about between 18 and 24 months [from September]. We’re trying to push it closer to the 18-month [period],” Energy Development chairman Federico Lopez told reporters at the sidelines of an energy conference in Dusit, Makati City Thursday.
Lopez said the company hoped to bring the capacity of the power plant up to 150 MW and sell the excess supply to the Visayas and Mindanao consumers.
“We’re still looking at 120 MW and hopefully we can expand that to 150 MW,” he said.
First Gen’s corporate vehicle Bac-Man Geothermal Inc. submitted the highest bid for the BacMan power plants at $28.5 million.
Energy Development supplies the steam fueling the BacMan geothermal power plants.
Energy Development president Richard Tantoco said the company’s acquisition of National Power Corp.’s geothermal power plants was one of their major platforms for future growth.
“With the turnover of the BacMan power plant, we are now fully integrated across the geothermal value chain. This vertical integration will result in a seamless and more efficient operations,” Tantoco said.
The BacMan plant package consists of two steam plant complexes in the provinces of Albay and Sorsogon.
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