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EDC signs 50 MW PPA with MERALCO for Bacman plant

EDC signs 50 MW PPA with MERALCO for Bacman plant Drilling rig of EDC in the Philippines (source: EDC)
Francisco Rojas 26 Nov 2014

Bacman Geothermal Inc shall supply MERALCO with 50 MW of power from the Bacman Power Plants over a term of 5 years extendible by an additional 2 years.

In a letter to the Philippine Stock Exchange, EDC Stated the following:

We wish to advise the Exchange that Bacman Geothermal Inc. (“BGI”), the wholly-owned subsidiary of Energy Development Corporation (“EDC”) that owns and operates the Bacman Power Plants, concluded today the execution of a Power Supply Agreement with Manila Electric Company (“MERALCO”), the country’s largest distribution utility.

Pursuant to the agreement, BGI shall supply MERALCO with 50 MW of power from the Bacman Power Plants over a term of 5 years extendible by an additional 2 years. The agreement shall be submitted to the Energy Regulatory Commission for approval.

Source: EDC