Manila Times.net
BY EUAN PAULO C. AÑONUEVO REPORTER
ENERGY Development Corporation will vie for over a dozen projects in Chile.
Richard Tantoco, EDC president and chief executive officer, said the company submitted proposals for 13 geothermal concessions in the South American country.
”Overseas, we have applied for 13 concession areas and submitted bids for five other concession areas in Chile.” he said.
EDC earlier created a subsidiary, EDC Chile Limitada, to explore and develop geothermal energy in the said country.
The company projects Chile’s geothermal prospects at around 16,000 megawatts largely because these resources remain underdeveloped.
In contrast, the Philippines, which is the second largest geothermal energy producer in the world next to the US, only has around 2,600 megawatts of potential untapped geothermal resource left based on Department of Energy figures.
Tantoco said the company can acquire some geothermal assets in Chile as early as this year. ”We expect positive news on some of these in 2011,” he said.
Developing these projects could take at least six years as the company would have to conduct studies, evaluate resources and procure equipment before putting up geothermal power plants.
Tantoco said this would complement EDC’s local expansion, which is projected to taper off at about the same time as its foreign projects start kicking in.
”These (overseas undertakings) may take off in 2015 to 2016,” he said.
Aside from Chile, EDC also plans to expand in Indonesia but is still evaluating potential partners and studying prospective areas for development.
”In Indonesia, progress has been slower as we continue to explore areas and consider joint venture with holders of concession areas. In parallel, we are applying for greenfield concession areas,” Tantoco said.
No comments:
Post a Comment