At the Tiwi-Makban geothermal power plant, 10-15 new geothermal wells are being eyed for drilling by Aboitiz Power Renewables Inc. (APRI) and Chevron Geothermal Philippines Holdings Inc. (CGPHI) within the next 3 years. Each well is expected to produce about 7MW ~8MW of power. Exploration is expected to start by quarter 2 of 2010.
According to them, the cost of exploring a new geothermal well for Tiwi-Makban is somewhere between $5 ~ $6 Million. Their initial agreement has CGPHI covering 45% of the drilling cost while APRI will shoulder the remaining.
Aboitiz Power Corp meanwhile is planning to invest $150 million over the next four to five years to rehabilitate the Tiwi-Makban facilities to increase its power generating capacity from 462 MW to 517 MW.
Category: Clean Energy, Geothermal
