Maibarara Geothermal proceeding with 20 MW extension in Batangas
Maibarara Geothermal Inc. will proceed with the financial closing for 70% of the project cost. Construction will start soon and it will go online in July 2017
Local News say that Philippine company Maibarara Geothermal Inc. will proceed with the expansion of the 20MW geothermal power plant in Batangas, Philippines
The same news source states that: Maibarara Geothermal president Francisco Delfin Jr. told reporters the company started drilling two steam wells last year to expand the project by another 10 MW. The wells are undergoing testing “to determine how much capacity it can accommodate.”
“Testing is ongoing…In the next two weeks, we believe that we have sufficient steam based on reserves estimation for the 10-MW expansion,” Delfin said.
He said the company would proceed with the financial closing for 70-percent of the project cost. Construction will start soon after that, in line with the target of completing the project by July 2017, he said.
The 20-MW Maibarara geothermal project in Sto. Tomas, Batangas started commercial operation in early 2014.
Maibara Geothermal is a joint-venture between PetroGreen Energy Corp., a wholly-owned subsidiary of PetroEnergy Resources Cop. (with 65 percent), TransAsia Oil and Energy Development Corp. (25 percent) and PNOC Renewables Corp. (10 percent).
The Maibarara project is an integrated power facility consisting of steamfield, power station, and transmission line. Maibarara Geothermal constructed and designed the steamfield while the power plant was built by EPC contractor EEI Corp. Fuji Electric of Japan supplied the main plant equipment.
Maibarara Geothermal secured a P2.4-billion loan from Rizal Commercial Banking Corp. and Bank of the Philippines in September 2011 to partially fund the project.
The company registered the geothermal project as a Clean Development Mechanism activity under the Kyoto Protocol, enabling it to trade carbon credits
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Source: Manila Standard Today