Business World Online
Posted on December 05, 2013 10:12:32 PM
By Claire-Ann M. C. Feliciano, Reporter
COMMERCIAL operations of the 20-megaWatt (MW) geothermal power plant in Batangas -- originally to start last month -- have been pushed back to next year after the owner decided to extend testing.
Maibarara Geothermal, Inc. (MGI) President Francisco G. Delfin, Jr. told reporters yesterday that a supplier suggested the extension to ensure the smooth commercial operations of the power plant, which were originally to start in November.
"It looks like we’ll extend the testing to early 2014 because Fuji Electric, the main supplier of our equipment, wanted to do some additional tests on certain equipment -- more on safety and mechanical-related concerns," Mr. Delfin said, when asked for project updates on the sidelines of the Energy Investment Forum 2013, held at Hotel InterContinental Manila in Makati City.
"Because it’s a matter of safety and future operations, we agreed with them to do additional testing. That’s where we are right now," Mr. Delfin added.
He also said that commercial operations of the power plant will likely take place next year, with the actual date yet to be determined.
The 20-MW power plant, located in Barangay San Rafael, Sto. Tomas, costs about P3.49 billion.
In Sept. 2011, MGI secured a P2.4-billion loan from Rizal Commercial Banking Corp. and Bank of the Philippine Islands to partially fund the project.
This is a joint venture among PetroEnergy Resources Corp. (65%); Trans-Asia Oil and Energy Development Corp. (5%), and PNOC-Renewables Corp. (10%).
In November, the Philippine Electricity Market Corp. authorized the power plant to be a direct trading participant in the Wholesale Electricity Spot Market.
MGI already has a certificate of compliance from the Energy Regulatory Commission, a requirement prior to commercial operations. source
"It looks like we’ll extend the testing to early 2014 because Fuji Electric, the main supplier of our equipment, wanted to do some additional tests on certain equipment -- more on safety and mechanical-related concerns," Mr. Delfin said, when asked for project updates on the sidelines of the Energy Investment Forum 2013, held at Hotel InterContinental Manila in Makati City.
"Because it’s a matter of safety and future operations, we agreed with them to do additional testing. That’s where we are right now," Mr. Delfin added.
He also said that commercial operations of the power plant will likely take place next year, with the actual date yet to be determined.
The 20-MW power plant, located in Barangay San Rafael, Sto. Tomas, costs about P3.49 billion.
In Sept. 2011, MGI secured a P2.4-billion loan from Rizal Commercial Banking Corp. and Bank of the Philippine Islands to partially fund the project.
This is a joint venture among PetroEnergy Resources Corp. (65%); Trans-Asia Oil and Energy Development Corp. (5%), and PNOC-Renewables Corp. (10%).
In November, the Philippine Electricity Market Corp. authorized the power plant to be a direct trading participant in the Wholesale Electricity Spot Market.
MGI already has a certificate of compliance from the Energy Regulatory Commission, a requirement prior to commercial operations. source
No comments:
Post a Comment