Lopez-led Energy Development Corp. (EDC) is encouraging government to support the development of more geothermal projects—a clean and steady-priced power supply source—as it says the country cannot just rely on coal-fired power plants. A staunch supporter of clean energy adoption, EDC said geothermal is not only a clean and renewable energy source but its cost…
Tag: Geothermal
New projects to deliver 6,000 MW of capacity
NEW power projects with a combined capacity of 6,161 megawatts (MW) are expected to come on-stream between this year and 2020, latest data from the Department of Energy (DoE) showed. Of the committed capacity, as tallied by the DoE as of Sept. 30, more than 60% or 4,001 MW will be in Luzon. Mindanao will…
3 local groups eye Chevron geothermal assets
At least three big local conglomerates are looking at buying the domestic geothermal assets of American energy giant Chevron, which is seen unloading its Philippine and Indonesian geothermal units to focus on its core oil and gas businesses. Ayala Corp., Lopez-led Energy Development Corp. and Aboitiz Equity Ventures are studying the geothermal assets of Chevron. Read…
Forecast for power demand raised to 30,189 MW
THE DEPARTMENT of Energy (DoE) expects the country’s demand for electricity in 2030 to reach 30,189 megawatts (MW), or nearly 70% more than the current dependable capacity being supplied by the country’s existing power plants. “From here on until 2030, we will be needing something like 30,000 megawatts,” Energy Secretary Alfonso G. Cusi told reporters…
Meralco eyes 300MW supply contract on H1 2017
Manila Electric Co. (Meralco) is looking to contract up to 300-megawatts (MW) of capacity by the first half of 2017 as it moves to lock-in long-term electricity requirements of its franchise area. Meralco president and CEO Oscar Reyes said the power distributor has so far completed contracting baseload capacity and is now in the process…
PetroSolar gets ERC OK for FIT eligibility
PetroSolar Corp. has clinched regulatory approval for a guaranteed payment for its 50-megawatt (MW) solar power plant, adding to a list of assured revenue streams for the company. The company said it was granted the certificate of compliance as a feed-in-tariff (COC-FIT) eligible power plant by the Energy Regulatory Commission (ERC) for its 50-MW solar…
DOE speeds up processing of RE project applications
THE DEPARTMENT of Energy (DoE) has issued revised guidelines for the processing of applications, amendments and termination of renewable energy service or operating contracts that set the number of days for its staff to act on an applicant’s proposed project. Department Order 2016-06-0010, signed by former DoE Secretary Zenaida Y. Monsada on June 24, 2016,…
AboitizPower announces stay on geothermal, coal-fired projects
The Aboitiz Power Corp. has shelved plans to set up a geothermal plant as well as the expansion of its 300-megawatt coal-fired power plant at the boundaries of the city and Davao del Sur. While not directly explaining why the plans were pushed back for another time, first Vice-President for Mindanao Manuel M. Orig said…
DOE Chief to review energy mix targets
NEW Energy Secretary Alfonso G. Cusi expects to open his term of office reviewing the target energy mix set by the previous government of 30% each generated from coal, natural gas and renewables, as well as 10% from fuel oil. Whatever the outcome of the review, Mr. Cusi was quoted by Reuters as saying that…
Energy companies bare wish list for DoE chief
COMPANIES in the energy industry bared their wish list for new Energy Secretary Alfonso G. Cusi, who will formally take over the reins of the agency in a ceremony today. The list includes a FIT for geothermal, the renewable portfolio standards, and FIT eligibility for all solar developers who made it to the March 15…
EDC settles Bacman arbitration against Weir
ENERGY Development Corp. (EDC) on Tuesday said its subsidiary has reached an agreement with contractor Weir Engineering Services, Ltd. to end the arbitration proceedings over rehabilitation works for its Bacon-Manito (BacMan) geothermal power plant in Bicol region. In a disclosure to the stock exchange, EDC said Bac-Man Geothermal, Inc. (BGI) and Weir have agreed to jointly…
Basic Energy to pursue 3 RE projects
BASIC Energy Corp. is pursuing two to three renewable-energy projects, including the installation of solar photovoltaic farms, aimed at making the company profitable at the soonest time possible. Its geothermal projects include Mariveles Geothermal Power Project , the East Mankayan Geothermal Power Project, the West Bulusan Geothermal Power Project, Iriga Geothermal Power Project and the Mabini,…
Winnergy Holdings Corp. 