Philippine’s EDC expanding into Indonesia
Energy Development Corp. (EDC) plans to increase its investments in geothermal energy here and abroad to strengthen its position in the sector. As part of this the company is looking into geothermal exploration in Indonesia.
As reported in the Philippines, “Energy Development Corp. (EDC) plans to increase its investments in geothermal energy here and abroad to strengthen its position in the sector.
According to EDC president Paul A. Aquino, the company was eyeing new sites for its geothermal exploration projects, particularly in South Asia and the Middle East. In Indonesia, Aquino said the company was looking at four prospects for geothermal exploration. “We decided to go for the third type of expansion there, which is the preliminary survey of areas that are not owned or have not been contracted by any party,” Aquino said.
He added that the company, which already has a branch there, plans to operate in Indonesia as a 100-percent foreign-owned entity and without a local partner. Meanwhile, Aquino said the company was also eyeing an extension of its drilling contract with Lihir Gold Ltd. (LGL) of Papua New Guinea. “We might renew contracts in our drilling program at least for a year,” he said. In June 2008, EDC signed a $16.11-million drilling contract with Lihir.
Locally, EDC is preparing for its takeover of the 106-megawatt (MW) Mindanao (Mindanao I and II) power plants by June 2009.
EDC is likewise developing its Tanawon, Nasulo and Mindanao III geothermal facilities. It will also put up new power plants with a combined capacity of up to 300 MW to address the growing demand and supply shortage in Mindanao.
Aquino also said the company was preparing for the development of the 86-MW Burgos wind farm, as part of its thrust to develop more clean energy sources.
He added that EDC was eyeing a 5-MW wind farm in the main island of Boracay, even if “it is too small for our purposes.”
As for its 49-MW Northern Negros geothermal plant, which it had shut down due to insufficient steam production, Aquino said it may take a few more weeks before it could fully assess the condition of the remaining wells.
EDC earlier said that the Negros facility may be operational by March this year, after 10 months of study and testing.”
Source: Philippine Daily Inquirer