Maibarara plant breaking ground in the Philippines, to be operational 2013
Maibarara Geothermal Inc breaks ground on its 20 MW Maibarara geothermal power plant projects and expects it to be operational by late 2013.
Reported by local media, the first geothermal power plant projects in the Philippines in the last five years is breaking ground with the start of construction last week in Barangay San Rafael, Sto. Tomas, Batangas.
“The plant is owned by Maibarara Geothermal, Inc. (MGI) which is 65 percent-owned by PetroGreen Energy Corporation, with Trans-Asia Oil & Energy Development Corporation (25 percent), and government-owned PNOC-RC (10 percent).
The 20 MW Maibarara geothermal power project is an integrated steamfield and power plant facility that is expected to be operational by late 2013. It is the country’s newest geothermal power plant after the 49 MW Northern Negros plant commissioned in 2007.
EEI Corporation is building the 1×20 MW power plant as EPC contractor with Fuji Electric of Japan supplying the major plant equipment and serving as the power plant O&M contractor. Design and construction of the steamfield pipelines are directly handled by MGI.
The company secured a P2.40 billion ($56 million) loan facility in September, 2011 from Rizal Commercial Banking Corporation (RCBC) and Bank of the Philippine Islands (BPI) to fund the construction of the Maibarara project’s steamfield pipelines, the power station, and the transmission facilities.
DOE Undersecretary Jay Layug said that the ground breaking for the 20 MW Maibarara geothermal project demonstrates firmly the Aquino administration’s focus and resolve in working with the private sector, local governments, and other national agencies to ensure the stability of the country’s power supply and infrastructure.
He added that aside from meeting Luzon Grid energy requirements, the Maibarara project will help in generating jobs, increasing tax revenues, and government royalties to host communities and local government units.
Maibarara Geothermal, Inc. is leasing two lots in Sto. Tomas, Batangas from the government to be used in the steam field operations of the Maibarara Geothermal Power Project.
MGI’s parent company PetroEnergy Resources Corporation said MGI has signed a land lease agreement with the National Power Corporation and the Power Sector Assets and Liabilities Management Corporation for the two lots.
PetroEnergy said the lots are titled in Napocor’s name and the lease agreement was signed pursuant to the service contract awarded by Energy Department to Maibarara Geothermal, giving the company exclusive access and rights to conduct geothermal operations in the area.
The land lease agreement covers a period of 25 years, extendible for another 25 years upon mutual agreement of the parties.”
Source: Manila Bulletin