News

EDC will boost BacMan field production by 120 MW

Alexander Richter 8 Jan 2009

Philippines' Energy Development Corp. (EDC) is going to go through with its PHP 20 billion (US$ 430m) expansion project at the Bacon-Manito (BacMan) geothermal power field in Albay, Philippines.

Philippines’ Energy Development Corp. (EDC) is going to go through with its PHP 20 billion (US$ 430m) expansion project at the Bacon-Manito (BacMan) geothermal power field in Albay, Philippines. The field currently has a generation capacity of 150MW.

The project includes the construction of steam production complexes at Manito, Rangas and Tanawon and are expected to provide a generation capacity of 120 MW, or about 40 MW per field. The investment for development and survey of each field will cost around PHP 6 billion (US$130m).

EDC recently acquired a PHP 4.1 billion loan from the World Bank’s International Finance Corp. (IFC) to finance the company’s renewable energy expansion and acquisition.

Source: One Alternative Energy Blog via Philippines News Agency