EDC bags 10-year power supply contract for the island of Bohol
Energy Development Corporation has won a contract to supply geothermal power to the island province of Bohol, Philippines for 10 years starting 2024.
Philippine-based renewable energy company Energy Development Corporation has won a 10-year power supply contract for the island province of Bohol starting 2024. According to the contract, EDC will supply 50.83 MW of power from the Unified Leyte geothermal power plant to the island province.
EDC was selected by the join competitive selection body of One Bohol Power Distribution (1BP). As part of the contract, EDC will be putting up an 85-MW diesel-fired power plant in the island to serve as backup power supply in case of natural catastrophes that may isolate the island from the power grid.
The generation charge based on the contract is Php 4.7 (approx. USD 0.085) per kWh. This will be lower than the current price cap and the blended generation rates of the three electric cooperatives operating in Bohol.
The supply of renewable power from EDC’s geothermal plant will contribute in avoiding about 312,355 to 524,757 tons of carbon dioxide emissions from coal-fired power plants.
Earlier this year, the capacity of EDC’S Mindanao geothermal site was expanded by the addition of a new binary plant. More growth projects are underway for the Philippine company with the earmarking of funding for growth initiatives from parent company First Gen Corp.
Source: Manila Standard