Green Core Geothermal Inc. announced that they will supply 58 megawatts (MW) of geothermal based power to 7 electric cooperatives in the islands of Leyte and Negros.
The energy will come from the 112.5MW Tongonan 1 geothermal power plant (Leyte) and the 192.5MW Palinpinon geothermal power plant (Negros Oriental). The said power plants were bought by Green Core from the government in 2009.
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Energy Development Corp. (EDC) announced that they recently got the approval of the Dept of Energy for their wind farm projects in the Philippines paving the way for their construction.
These are for wind the farm projects in Camiguin, Dinagat and Surigao in Mindanao as well as Luzon projects in Balaoi-Pagudpud Ilocos Barangay Saoit at llocos Norte as well as another at Taytay, Rizal.
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The Lopez Group’s Energy Development Corp is set to have 5 geothermal development contracts approved by the Department of Energy.
The 5 areas are said to be able to produce about 110 MW plus of geothermal based energy. The 5 areas are located at Mt. Ampiro in Misamis Occidental (30 MW), Balingasag, Misamis Occidental (20 MW), Lakewood in Negros Occidental (40 MW), Mandalagan in Negros Occidental (20 MW)) and Mt. Zion in North Cotabato (capacity unknown).
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The Lopez Group’s Energy Development Corp (EDC) announced that they are seeking geothermal projects in the country of Kenya in Africa. They have received an invitation to bid for geothermal projects and are currently studying whether it is a feasible endeavor or not.
One of the main targets of the company for 2010 is to strengthen its presence in the international market which will lead to more income generation. There had been rumors that EDC had bid for a geothermal drilling project in Chile. What EDC however has confirmed was that they were eyeing expansion in South Asia and in the Middle East.
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The Lopez Group’s, Energy Development Corp, through their subsidiary Green Core Geothermal Inc. (GCGI), disclosed to the Philippine Stock Exchange, that they were pre-paying to the government’s Power Sector Assets and Liabilities Management Corp. (PSALM) over $123.8 million for the purchase of the Panlinpinon and Tongonana geothermal power plants.
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Energy Development Corp (EDC), vice chairman Paul Aquino, said that they were mulling putting up additional wind power plants in their Pagudpud, Ilocos Norte site. This will add further to their on-going 86 MW wind power project in Burgos, Ilocos Norte which they plan to have running by Q3 of 2010.
Initially the Burgos project was supposed to generate only 40MW of wind power generated electricity but due to the anticipated increase in demand for energy they decided to bump up their capacity.
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