Business World Online
Posted on August 18, 2011 10:07:35 PM
ENERGY DEVELOPMENT Corp. (EDC) has bagged tax breaks for two geothermal power projects worth a total of P3.91 billion, the Trade department yesterday said.
The P1.39-billion Southern Negros Geothermal production field produces the steam powering the 192.5-megawatt (MW) Palinpinon power plants owned and operated by Green Core Geothermal, Inc., an EDC subsidiary. The project is expected to employ 288 workers.
The Negros Oriental steamfield lies north of the dormant Cuernos de Negros volcano.
Palinpinon 1 has 25 production wells, 11 injection wells, and a 14-kilometer (km) pipe network, while Palinpinon 2 has 16 production wells, six injection wells and a 7-km pipe network.
On the other hand, the P2.52-billion Bacon-Manito Geothermal Production Field (BacMan) straddling the Albay-Sorsogon border has two steamfield projects, BacMan 1 and 2, which supply steam to the 110-MW and 40-MW nearby power plants of the National Power Corp., respectively.
The project is said to employ 261 workers.
The first steamfield has 14 production wells, seven injection wells, and a 15-km pipe network, while the second steamfield has nine production wells, five injection wells and a 5-km pipe network.
Under the 2008 Renewable Energy Act, such projects are qualified for incentive such as income tax holidays and duty-free importation of equipment to eligible ventures. -- Eliza J. Diaz
The Negros Oriental steamfield lies north of the dormant Cuernos de Negros volcano.
Palinpinon 1 has 25 production wells, 11 injection wells, and a 14-kilometer (km) pipe network, while Palinpinon 2 has 16 production wells, six injection wells and a 7-km pipe network.
On the other hand, the P2.52-billion Bacon-Manito Geothermal Production Field (BacMan) straddling the Albay-Sorsogon border has two steamfield projects, BacMan 1 and 2, which supply steam to the 110-MW and 40-MW nearby power plants of the National Power Corp., respectively.
The project is said to employ 261 workers.
The first steamfield has 14 production wells, seven injection wells, and a 15-km pipe network, while the second steamfield has nine production wells, five injection wells and a 5-km pipe network.
Under the 2008 Renewable Energy Act, such projects are qualified for incentive such as income tax holidays and duty-free importation of equipment to eligible ventures. -- Eliza J. Diaz
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