THE Lopez-controlled Energy Development Corp. will take over the 192.5-megawatt Palinpinon and 112.5-MW Tongonan geothermal power plants this month.
Marcelino Tongco, EDC vice president for operations, told reporters that the government is scheduled to turn over the facilities on Oct. 23.
‘‘EDC is expediting the turnover of the plants to maximize the benefits of steam sales. There are necessary rehab works needed,” Tongco said.
Green Core Geothermal Inc., EDCís corporate vehicle, made a bid of $220 million for the geothermal plants and won.
Once the power plants have been turned over, the priority is to rehabilitate them, EDC president and chief operating officer Richard Tantoco said.
EDC plans to rehabilitate and bring the rated capacity of Palinpinon in Valencia, Negros Oriental, from 180 MW back to 192.5 MW.
For Tongonan in Leyte, Tantoco said that EDC wants to bring back the capacity to 112 MW as the plant is currently producing at 84 MW.
“We definitely have [expansion] plans for Palinpinon, probably in two to three years, [but] not for Tongonan,” he said.
EDC has already raised the 40-percent down payment for the Palinpinon-Tongonan geothermal facilities.
“In the meantime, we will avail [ourselves] of the 60-percent staple financing of the Power Sector Assets and Liabilities Management Corp.,” Tantoco said.
The Palinpinon plant consists of Palinpinon I and II power stations.
Commissioned in 1983, Palinpinon I has three 37.5-MW steam turbines with a total rated capacity of 112.5 MW.
Palinpinon II consists of the modular power plants Nasuji, Okoy 5 and Sogongon.
The 20-MW Nasuji was commissioned in 1993, the 20-MW Okoy 5 in 1994.
Sogongon—commissioned in 1995—has the 20-MW Sogongon 1 and 20-MW Sogongon 2.
The Tongonan plant in Leyte province consists of three 37.5-MW units commissioned in 1983. Both plants use steam supplied by EDC.
EDC is the countryís largest geothermal power producer in the country, with an installed capacity of 1,149.4 MW, or 60 percent of the total capacity.
The Lopez Group bought EDC for P58.8 billion in a bidding in November 2007. –Alena Mae S. Flores, Manila Standard Today
Invoke Article 33 of the ILO constitution
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