EDC plans investment of up to $225m for 50 MW expansion at Mindanao
Steam pipes at Mount Apo, Mindanao Philippines
source: (flickr/ penmanila)
Alexander Richter
14 May 2013
Energy Development Corp. (EDC) is planning to invest up to $225 million into the 50 MW expansion of its Mindanao geothermal power generation facilities through the Mindanao 3 project.
News from the Philippines report that Energy Development Corp. (EDC) is planning investments of up to $225 million for the expansions to the Mindanao geothermal plant.
The 50-MW Mindanao 3 geothermal project is located in Kidapawan, North Cotabato and is expected to come online by 2017. Currently the cost of development is estimated at $4.5 million per installed MW in power generation capacity.
The Mindanao geothermal field already hosts two geothermal power plants, the 52-MW Mindanao 1 and 54-MW Mindanao 2 plants. The Mindanao 3 plant would bring the total capacity to about 150 MW.
EDC was able to assume full ownership of these power plants in 2009 from the build-operate-transfer (BOT) contractor Mindanao 1 Geothermal Partnership (M1GP), which was a consortium between Oxbow Power Corp. and Marubeni Corp.
Source: Business Inquirer
