Philippines expands wind, geothermal
The Philippines’ largest developer of geothermal power, Energy Development Corporation (EDC), is mulling over plans to invest up to $375 million for new projects in Luzon and Mindanao.
The plans would include investing an extra $150 million to upgrade the proposed design for the Burgos wind farm in Ilocos Norte, what will be the country’s largest when completed.
According to EDC president and COO Richard B. Tantoco, the investment will boost the wind farm’s planned capacity from 87 mega watts to 150 mega watts, moving the total cost of the project from $300 million to $450 million.
“We’re very excited about the wind [project] because there’s a chance in Burgos to actually expand. We have to also expand the [coverage] of the environmental compliance certificate,” Tantoco was quoted as saying in the Business Inquirer, explaining that the “notice to proceed” on the project may be issued in the next two to three weeks, while the expansion will follow once permits are received.
An official noted that the Burgos wind farm was on track to be completed by the third quarter of 2014, while the expansion may come in a little later than 2015.
The boosted energy capacity will line up with the country’s master plan to derive half of its energy from renewable by 2030 while keeping up with increased demand, which is already burdening the grid.
EDC, a former entity of a the state-owned Philippine National Oil Company, is the world’s second largest.
In Mindanao, the company may invest another $225 million into the 50-mega watt Mindanao 3 geothermal project in Kidapawan, North Cotabato, based on the rule of thumb that as much as $4.5 million will be needed to produce a megawatt of geothermal power.
The Philippines highly volcanic geography has allowed it to become the second largest producer of geothermal energy in the world behind the US.
Under its 2030 Energy Plan, the Philippines set a target to increase operating geothermal capacity from 1,972 megawatts to 3,447 megawatts for an increase almost 1,500 megawatts, a goal that the government hopes to make obtainable to opening up more investment gateways to the private sector.
EDC is currently rehabilitating the Bacon-Manito, Palinpinon, and Tongonan geothermal power plants to ensure the target is met.
[caption id="attachment_9484" align="alignleft" width="300"] Click to enlarge[/caption] The Philippines’ largest developer of geothermal power, Energy Development Corporation (EDC), is mulling over plans to invest up to $375 million for new projects in Luzon and Mindanao. The plans would include investing an extra $150 million to upgrade the proposed design for the Burgos wind farm in Ilocos Norte, what will be the country’s largest when completed. According to EDC president and COO Richard B. Tantoco, the investment will boost the wind farm’s planned capacity from 87 mega watts to 150 mega watts, moving the total cost of the project from $300...
The Philippines’ largest developer of geothermal power, Energy Development Corporation (EDC), is mulling over plans to invest up to $375 million for new projects in Luzon and Mindanao.
The plans would include investing an extra $150 million to upgrade the proposed design for the Burgos wind farm in Ilocos Norte, what will be the country’s largest when completed.
According to EDC president and COO Richard B. Tantoco, the investment will boost the wind farm’s planned capacity from 87 mega watts to 150 mega watts, moving the total cost of the project from $300 million to $450 million.
“We’re very excited about the wind [project] because there’s a chance in Burgos to actually expand. We have to also expand the [coverage] of the environmental compliance certificate,” Tantoco was quoted as saying in the Business Inquirer, explaining that the “notice to proceed” on the project may be issued in the next two to three weeks, while the expansion will follow once permits are received.
An official noted that the Burgos wind farm was on track to be completed by the third quarter of 2014, while the expansion may come in a little later than 2015.
The boosted energy capacity will line up with the country’s master plan to derive half of its energy from renewable by 2030 while keeping up with increased demand, which is already burdening the grid.
EDC, a former entity of a the state-owned Philippine National Oil Company, is the world’s second largest.
In Mindanao, the company may invest another $225 million into the 50-mega watt Mindanao 3 geothermal project in Kidapawan, North Cotabato, based on the rule of thumb that as much as $4.5 million will be needed to produce a megawatt of geothermal power.
The Philippines highly volcanic geography has allowed it to become the second largest producer of geothermal energy in the world behind the US.
Under its 2030 Energy Plan, the Philippines set a target to increase operating geothermal capacity from 1,972 megawatts to 3,447 megawatts for an increase almost 1,500 megawatts, a goal that the government hopes to make obtainable to opening up more investment gateways to the private sector.
EDC is currently rehabilitating the Bacon-Manito, Palinpinon, and Tongonan geothermal power plants to ensure the target is met.
