Lopez owned, Energy Development Corp (EDC), will push through with its P20 B Geothermal Expansion project at the Bacon-Manito (BacMan) geothermal power field in Albay. The field sits in a 25000 hectare area and is currently generating about 150 MW of capacity.
The expansion project entails construction of steam production complexes at Manito, Rangas and Tanawon. All sites are expected to generate 120 MW of power or 40 MW from each field. Each site will carry a cost of over P6 Billion to develop and survey.
EDC was acquired from the government by the Lopez Group in November 2007 when it was privatized. It was initially called PNOC-EDC.
Together with the Aboitiz Group, EDC has been aggressive in expanding its renewable energy projects by investing and bidding in Wind, Geothermal and Hydro sites being offered by the Government through either development contracts or privatization.
EDC recently acquired a P4.1 Billion loan from the World Bank’s International Finance Corp to finance their renewable energy expansion and acquisition.
[source]
Category: Geothermal, EDC
