Rehabilitation cost of Bacon-Manito plants to hit $100m — EDC.
Energy Development Corp., a unit of First Gen Corp. and the largest geothermal company in the Philippines, said Friday the rehabilitation cost of the 150-megawatt Bacon-Manito geothermal plants in Bacon, Sorsogon and Manito, Albay will reach $100 million.
EDC president Richard Tantoco said the company had already spent $78 million since the company acquired the Bacon-Manito facilities.
“We’ve spent $78 million already. If we have to replace turbines of unit I and II, that’s another $25 million for two [units], so we will have to spend $100 million, including the cost of unit III rehabilitation,” Tantoco said.
The Bacman geothermal power plants consist of unit I (55 MW), unit II (55 MW) and unit III (20 MW).
“Unit I is running and if it clears inspection now before elections, we will run it and inspect it after a longer period, maybe 60 to 90 days, and if it clears 90 days, we will keep it running,” Tantoco said.
He said unit III was running at the pre-commissioning stage.
“Unit III, when this was under Napocor, suffered damage due to flood and landslide. It was underwater for three weeks so its two big components, the turbine and generator, [were] completely eroded,” he said.
Tantoco said the company had ordered a generator due to arrive next year.
He said the Bacman geothermal plants should deliver P4 billion to P4.2 billion worth of revenues and P2.8 billion in net income.
Tantoco said EDC could not yet declare the operations of unit 1 as commercial pending the release of a certificate from the Board of Investments. Alena Mae S. Flores
Filed under: Sorsogon News Updates