The first geothermal power facility to be completed under the Aquino administration, the Maibarara Geothermal Project, started commercial operations over the weekend.
Located in Santo Tomas, Batangas, the Maibarara Geothermal power plant has a 20-megawatt (MW) capacity.
The project owner and operator, Maibarara Geothermal Inc. (MGI), is a joint venture company that is 65-percent owned by PetroGreen Energy Corp. (PGEC), 25-percent owned by TransAsia Oil and Energy Development Corp. (TA) and 10-percent owned by PNOC Renewables Corp. (PNOC-RC). PEGC is a wholly owned subsidiary of listed PetroEnergy Resources Corp.
The Maibarara facility, the first geothermal project to go on-stream under the Renewable Energy Act of 2008, is an integrated power facility comprising of steamfield, power station and transmission lines.
The steamfield was designed and constructed by MGI, while the power plant was built by engineering, procurement and construction contractor EEI Corp., with Fuji Electric of Japan supplying the main plant equipment.
MGI’s power plant is linked by a five-kilometer long 115-kilovolt transmission line to the Luzon grid through the distribution system of Manila Electric Co. (Meralco). The facility was synchronized to the Luzon grid on November 4, 2013, in coordination with Meralco and the National Grid Corp. of the Philippines.
TA, one of the owners of the facility, is the sole offtaker of the electricity output of the power plant.
On Monday, TA announced that its consolidated net income for 2013 reached P572 million, but did not provide complete details of its financial performance.