Narrative Report
I. Table of Contents II. Brief History/Background of the Company/Company Profile
The catalyst to the geothermal development of the Philippines was the oil crisis that hit the country in the early 1970’s, exposing the country’s vulnerability to imported fossil fuel. Geothermal development efforts were initially started by the National Power Corporation which ushered in the development of the Tiwi and Makban geothermal fields in the Luzon Island through the Philippine Geothermal Incorporated (now Chevron) which resulted in the establishment of aggregate 660 MW plants (1979-1984). Recognizing the massive task ahead, the PNOC-EDC was created which immediately embarked in the exploration and development of the other geothermal areas in the country. This resulted in the commissioning of the 112.5 MW Palinpinon I geothermal plant (1983), the 112.5 MW Tongonan geothermal plant (1983), the 150 MW Bacon Manito geothermal plants (1994), and the Palinpinon II geothermal power plants (1992), all with the National Power Corporation as the power plant operator. With the advent of the BOT Law in 1992, the 588.4 MW Unified Leyte Plants (1996-1997) and the 106.0 MW Mindanao geothermal power plants (1997-1999) were installed. In February 2007, EDC commissioned its first merchant plant, the 49.4 MW Northern Negros geothermal power plant (2007). Chevron also optimized their geothermal resource (added Catigtig 2 30th Anniversary Workshop 95.7 MW) increasing the country’s geothermal power capacity to 1954.1 MW, making the Philippines the second largest geothermal power producer in the world. Looking forward, EDC as a private corporation is putting on stream growth projects with a capacity of up to 300 MW which is expected to be on line starting 2010. Energy Development Corporation is a pioneer in the geothermal energy industry with more than three decades of proven business viability. It has helped discover new ways of developing and commercializing renewable energy right at the
The catalyst to the geothermal development of the Philippines was the oil crisis that hit the country in the early 1970’s, exposing the country’s vulnerability to imported fossil fuel. Geothermal development efforts were initially started by the National Power Corporation which ushered in the development of the Tiwi and Makban geothermal fields in the Luzon Island through the Philippine Geothermal Incorporated (now Chevron) which resulted in the establishment of aggregate 660 MW plants (1979-1984). Recognizing the massive task ahead, the PNOC-EDC was created which immediately embarked in the exploration and development of the other geothermal areas in the country. This resulted in the commissioning of the 112.5 MW Palinpinon I geothermal plant (1983), the 112.5 MW Tongonan geothermal plant (1983), the 150 MW Bacon Manito geothermal plants (1994), and the Palinpinon II geothermal power plants (1992), all with the National Power Corporation as the power plant operator. With the advent of the BOT Law in 1992, the 588.4 MW Unified Leyte Plants (1996-1997) and the 106.0 MW Mindanao geothermal power plants (1997-1999) were installed. In February 2007, EDC commissioned its first merchant plant, the 49.4 MW Northern Negros geothermal power plant (2007). Chevron also optimized their geothermal resource (added Catigtig 2 30th Anniversary Workshop 95.7 MW) increasing the country’s geothermal power capacity to 1954.1 MW, making the Philippines the second largest geothermal power producer in the world. Looking forward, EDC as a private corporation is putting on stream growth projects with a capacity of up to 300 MW which is expected to be on line starting 2010. Energy Development Corporation is a pioneer in the geothermal energy industry with more than three decades of proven business viability. It has helped discover new ways of developing and commercializing renewable energy right at the