Aboitiz Power starts early development work on Negron-Cuadrado project
Aboitiz Group's renewable arm AP Renewables is planning to start early development work for the Negron-Cuadrado geothermal project that is planned to help evaluate potential capacity and total investment needs to develop the project.
Philippine Aboitiz Power Corp reports it has started early development work on the Negron-Cuadrado geothermal project near Zambales and Pampanga.
The company’s AP Renewables Corp. has started the initial work, according to the Assistant Vice President Ria Calleja. The company though still needs to identify the power generation potential and investment needs for the project.
“We were awarded the geothermal renewable energy service contract for the Negron Cuadrado service area by the [Department of Energy],” Calleja said.
AP Renewables controls the Aboitiz Group’s only geothermal asset — the 289 MW Tiwi and 458 MW MakBan geothermal power complex – located along Albay, Laguna and Batangas.
Besides the said power facility, AboitizPower also controls a number of hydro, coal and diesel plants with a combined capacity of 2,000 megawatts. Over the next five years, AboitizPower plans to spend P125 billion ($2.6 billion) to boost its power-generating portfolio by around 750 MW to 3,500 MW in total.”
Source: Philippine News