GIANT SOUTHERN LEYTE GEOTHERMAL PLANT MULLED

SAN JUAN - The Energy Development Corporation (EDC) plans to build several “greenfield” geothermal power plants in Southern Leyte, Dumaguete, Negros Oriental, Davao, Legaspi and Sorsogon to increase its capacity by 200 megawatts which would make it the world’s biggest geothermal producer.
In a recent press conference, EDC president Richard Tantoco said the Lopez-led firm was about “70-74 MW away from being the No. 1 geothermal producer in the world, and that’s very rare for a Philippine company to be able to say."
EDC currently ranks second to Chevron in terms of geothermal capacity.“We’re looking at greenfield growth within our five concession areas [awarded by] the Department of Energy and within those, we have the opportunity to grow another 200 to 220 MW,” Tantoco said.
He said they would invest between $1.5 million and $2.5 million to generate a megawatt of geothermal energy.
This means that for a combined 200-MW capacity, EDC would invest as much as $500 million, or about P23.5 billion (at P47 to a dollar) over the next several years.(By Mark Rimas)

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