EDC Expects Geothermal and Profit Boost Next Year
Mt Bulusan, Philippines (source: flickr/ agapbulusan, creative commons)
Francisco Rojas
7 May 2014
Despite the damaging effects of Super Typhoon "Yolanda" in the Philippines, geothermal operations are well underway to go fully operational.
According to InterAkyson: On the sidelines of its annual stockholders meeting, EDC president Richard B. Tantoco said the company would surpass its 2012 record profit of P8.3 billion once its shuttered geothermal plants are back online.
The Lopez-owned company expects the 130-megawatt (MW) Bacon-Manito (BacMan) geothermal plant in Albay and Sorsogon to resume operations next year.
This year, the 25-MW Nasulo geothermal plant in Negros Oriental is expected to begin operations. The facility houses the 49-MW plant that the company dismantled and relocated from Negros Occidental because of limited production.
Also seen coming online later this year is the 650-MW Unified Leyte geothermal power plants in Leyte, which were damaged by Super Typhoon ‘Yolanda’ in November last year.
Besides its geothermal plants, EDC’s 150-MW Burgos wind farm in Ilocos Norte will also be up by next year, Tantoco said.
The BacMan, Nasulo and Burgos plants combined would provide roughly P8 billion in additional revenues next year. In 2012, EDC generated P28.4 billion in sales.
Source: Interaksyon Website
