GEOTHERMAL giant Energy Development Corp. (EDC) is targeting to fast-track the rehabilitation of the 150-megawatt (MW) Bacon-Manito (BacMan) geothermal power plant by the second half of next year.
“We’re really rushing the BacMan to make sure it comes online. We’re still looking at 120 MW and hopefully we can reach 150 MW of its full generating capacity,” Federico Lopez, EDC chairman and chief executive, told reporters.
The EDC official said they expect to complete rehabilitation of the BacMan in 18 to 24 months.
Lopez quickly added that they are trying to push it closer to the 18 month target or even earlier.
“Hopefully we can get it even by second half next year [just the rehabilitation for BacMan,” he said.
In September, EDC completed the acquisition of the 150-MW Bacman geothermal power plant through its subsidiary Bacman Geothermal Inc. (BGI).
The closing came after BGI remitted to the Power Sector Assets and Liabilities Management Corp. (Psalm) the sum of P1.280 billion as full payment for the power facilities.
The turnover followed BGI’s submission of the highest offer for the facilities in a competitive bid held on May 5 and its successful completion of the conditions precedent required in the Asset Purchase Agreement.
“Our main focus now is to rehabilitate these plants and restore capacity and reliability factors to 100 percent to add clean, reliable and much needed power to the Luzon grid,” Richard Tantoco, EDC president and chief operating officer, said.
Situated in the towns of Bacon, Sorsogon and Manito, Albay in Bicol, the BacMan package consists of two steam plant complexes. BacMan I comprises two 55-MW turbines, which were both commissioned in 1993. BacMan II, on the other hand, consists of two 20-MW units. The Cawayan unit was commissioned in 1994 and the Botong unit in 1998. EDC supplies the steam fueling these plants.
“The acquisition of NPC’s geothermal power plants is one of our 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 seamless and more efficient operations,” Tantoco said.
The Bacman plants boost EDC’s current portfolio of geothermal power generation assets to 1,199-MW. EDC also acquired the 112.5-MW Tongonan and 192.5-MW Palinpinon geothermal plants auctioned by Psalm last year.
EDC’s other geothermal power generating assets are the Unified Leyte plants consisting of the 125-MW Upper Mahiao, 232.5-MW Malitbog, 180-MW Mahanagdong and 51-MW Optimization plants, the 106 MW Mindanao 1 and 2 plants in Kidapawan, Cotabato, and the 49-MW Northern Negros geothermal plant in Negros Occidental.
No comments:
Post a Comment