EDC expects to take over Palinpinon and Tongonan at the end of 2009
Alexander Richter
13 Nov 2009
The Energy Development (EDC) expects to take over the operation of the 192.5-megawatt Palinpinon and 112.5-MW Tongonan geothermal power plants in the fourth quarter of 2009.
According to local news, “The Energy Development (EDC) expects to take over the operation of the 192.5-megawatt Palinpinon and 112.5-MW Tongonan geothermal power plants in the fourth quarter this year.
Richard Tantoco, EDC president and chief operating officer, said the company had already raised the needed 40 percent upfront payment for the US$ 220 million power facilities which they won last week through their subsidiary- the Green Core Geothermal Inc. Tantoco said the company’s priority was to rehabilitate the plants.
The company wants to bring Palinpinon power plant, located in Valencia, Negros Oriental, back to its rated capacity of 192.5 megawatts (MW).
Palinpinons current capacity is placed at 180MW or 12.5MW short of its rated capacity.
EDC plans to restore the 112-MW rated capacity of Tongonan plant in Leyte from 84 MW today.
“We definitely have (expansion) plans for Palinpinon probably in two to three years (but) not for Tongonan”, he said.
The Power Sector Assets and Liabilities Management Corp. (PSALM) declared Green Core Geothermal Inc. as the winning bidder last week with a tender offer of US$ 220 million as against the Aboitiz Group’s US$ 200 million.
Meantime, Tantoco said once they paid the 40 percent down payment, EDC will avail of the 60 percent staple financing of Power Sector Assets and Liabilities Management Corp.
The Palinpinon plant consists of two power stations Palinpinon I and II ? which are approximately five kilometers apart.
Commissioned in 1983, Palinpinon I comprises three 37.5 MW steam turbines for a total rated capacity of 112.5 MW. Palinpinon II, on the other hand, consists of three modular power plants: Nasuji, Okoy 5, and Sogongon.
The 20-MW Nasuji was commissioned in 1993, while the 20-MW Okoy 5 was commissioned in 1994. Commissioned in 1995, Sogongon is composed of the 20-MW Sogongon 1 and 20-MW Sogongon 2.
The Tongonan Geothermal Power Plant consists of three 37.5-MW units, which were commissioned in 1983. It is located in Sitio Sambaloran, Barangay Lim-Ao, Kananga , Leyte province.
Both plants use steam supplied by the EDC.
EDC, is the country’s largest producer of geothermal energy as it accounts for more than 60 percent of the countrys total installed geothermal capacity.”
Source: Trading Markets
