Manila Bulletin
By: Myrna M. Velasco
Published: March 5, 2013
Japanese firm Sumitomo Corporation was chosen by the Energy Development Corporation (EDC) as its contractor for the transfer of the Northern Negros Geothermal Plant (NNGP) to a site close to its Nasulo geothermal power facility.
According to EDC chief finance officer Nestor H. Vasay, the transfer of the facility is among the big-ticket items integrated into EDC’s capital spending this year; which was given total allocation of P32 billion from P20 billion last year.
For NNGP, the company will be spending $65 million or about P2.0 billion for its relocation, which shall also entail “rightsizing” as to its capacity.
Vasay added that two contracts were awarded for the project, with the civil works deal given to First Balfour Inc., a construction firm of the Lopez group.
“Before we closed it (NNGP), we have about 10 to 11 megawatts, when we rightsize it, we will have 10MW, and that’s okay,” Vasay said.
Vasay said bulk of the capital expenditures (capex) will be for their P11 billion Burgos wind power project; while the rest will be for geothermal well drillings and continuing rehabilitation spending for subsidiary Green Core Geothermal Inc. which is the operating vehicle for the Bacon-Manito facility.
For the Lopez firm’s Mt. Apo geothermal project expansion, the planned capacity addition will be 50 megawatts from the existing 106MW installed.
“We still have to drill two more wells in order to determine the size of the resource…we’re initially looking at 50MW expansion for Mt. Apo,” the EDC executive said.
Vasay further explained that the approximately P10 billion jump in their programmed capex was due to the ‘final go” given to the 87MW wind power project in Ilocos.
He stressed that while the planned facility was already part of their capital outlay last year, the allocation was still very minimal because all the works were still preparatory. source
According to EDC chief finance officer Nestor H. Vasay, the transfer of the facility is among the big-ticket items integrated into EDC’s capital spending this year; which was given total allocation of P32 billion from P20 billion last year.
For NNGP, the company will be spending $65 million or about P2.0 billion for its relocation, which shall also entail “rightsizing” as to its capacity.
Vasay added that two contracts were awarded for the project, with the civil works deal given to First Balfour Inc., a construction firm of the Lopez group.
“Before we closed it (NNGP), we have about 10 to 11 megawatts, when we rightsize it, we will have 10MW, and that’s okay,” Vasay said.
Vasay said bulk of the capital expenditures (capex) will be for their P11 billion Burgos wind power project; while the rest will be for geothermal well drillings and continuing rehabilitation spending for subsidiary Green Core Geothermal Inc. which is the operating vehicle for the Bacon-Manito facility.
For the Lopez firm’s Mt. Apo geothermal project expansion, the planned capacity addition will be 50 megawatts from the existing 106MW installed.
“We still have to drill two more wells in order to determine the size of the resource…we’re initially looking at 50MW expansion for Mt. Apo,” the EDC executive said.
Vasay further explained that the approximately P10 billion jump in their programmed capex was due to the ‘final go” given to the 87MW wind power project in Ilocos.
He stressed that while the planned facility was already part of their capital outlay last year, the allocation was still very minimal because all the works were still preparatory. source
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