Maibarara project approved under CDM scheme for carbon credits
The 20 MW Maibarara geothermal power project in Batangas, Philippines has been approved under the Clean Development Scheme of the UN Framework Convention on Climate Change to qualify for carbon credits under the scheme.
The 20 MW Maibarara geothermal power project in Batangas, Philippines has been approved under the Clean Development Mechanism (CDM) scheme of the United Nations Framework Convention on Climate Change (UNFCCC).
The project is being developed by Maibarara Geothermal Inc.’s (MGI) owned 65% by PetroGreen Energy Corp., a 100-percent subsidiary of publicly listed PetroEnergy Resources Corp., while Trans-Asia Oil & Energy Development Corp. and PNOC-Renewables Corp. each own 25 percent of the company.
The power plant is expected to be ready for initial tests by the first week of July and for full commissioning tests by September. Commercial operation is expected to start by late 2013.
“We are pleased to obtain UN approval for the CDM registration of our Maibarara geothermal-power project as carbon credits will supplement MGI’s revenue from electricity sales,” said MGI President F.G. Delfin Jr.
Renewable Energy Management (REMB) Bureau Director Mario C. Marasigan said the operation of the project’s first 20-MW unit is expected to reduce greenhouse-gas emissions between 71,000 and 76,000 tons of carbon dioxide equivalent per year, thus contributing to the global efforts of mitigating man-induced global warming and climate change. REMB is an agency under the Department of Energy (DOE).
“The DOE commends our service contractor MGI in reaching yet another milestone with the UN approval of Maibarara’s CDM registration. Just as important, MGI’s application for the facility’s Certificate of Compliance filed with the Energy Regulatory Commission [ERC] in April is a critical step towards eventual commercial operation this year. Given that Maibarara is a government-contracted power project, DOE-REMB will coordinate with ERC and other agencies to ensure that government permits are released in a timely fashion so that Maibarara can supply much needed additional power to the Luzon grid this year,” said Marasigan.”
Source: Business Mirror