By MYRNA M. VELASCO
August 31, 2012, 8:15pm
MANILA, Philippines — From its reigning installed geothermal capacity of 1,130 megawatts, Lopez firm Energy Development Corporation (EDC) is targeting to set on stream additional 335 megawatts of this technology type to further expand its portfolio on this sphere.
EDC senior vice president Agnes de Jesus has indicated in a recently-concluded Renewable Energy Forum that of the targeted future geothermal capacity, about 125MW will likely be on-line by 2016.
But with the inclusion of its wind development target, she noted that “for the next five years, EDC will push for 6 potential greenfield projects with a total capacity of 200 MW by 2016-2017.”
The 12 new geothermal projects of the company, she said, will comprise of five expansion ventures; two development projects and prospective exploration in five frontier areas.
The two development projects being lined up are the 65-MW Labo prospect in the Bicol region; and 30-MW Mainit planned project in Mindanao.
She similarly emphasized that the “five expansion projects will be from EDC’s existing steamfields;” particularly those in Bacon-Manito, Kayabon, Nasulo, Dauin and North Cotabato.
The frontier areas being eyed by the company are the 20-MW Balingasag; 30-MW Ampiro; 40-MW Lakewood; 20-MW Mandalagan as well as the Mt. Zion prospect.
The company is currently ranked the world’s second largest geothermal energy producer, but with its planned capacity expansions, it has been advancing a bid to eventually topple the United States in the top spot.
The lady executive similarly emphasized that the overseas ventures being eyed by the company are on track, primarily those in the Latin American jurisdictions of Peru and Chile. The other development targets are in Indonesia and Africa.
De Jesus noted that “geothermal will make up 70-percent of the 17 new projects” cast in the investment blueprint of EDC.
The other project developments focus will be on wind for three sites, including the 84-MW Burgos project; and solar for two prospective sites. source