Two separate project agreements have been signed finally propelling the implementation of the 20 megawatt (MW) Maibarara geothermal power project spearheaded by the subsidiary of listed firm PetroEnergy Resources.
In a disclosure to the Philippine Stock Exchange (PSE), one of the project partners, Trans-Asia Oil and Energy Development Corporation, noted that the engineering, procurement and construction (EPC) contract for the facility has been sealed with local firm EEI Corporation.
A separate deal with Japanese firm Fuji Electric was concluded for the “remote monitoring and technical advisory service agreement” for the proposed facility.
The project sponsors noted that for the turnkey contract, “EEI has tapped Fuji Electric for the design, manufacture, delivery and testing of the power plant.”
It added that the work commitment of EEI shall cover “the civil works, erection, balance of plant requirements and overall project management.”
The geothermal power facility is targeted for commissioning around 2013, the same period when power supply in the Luzon grid is expected to hit precarious level.
Prior to the award of contracts for the facility’s construction, the developers also secured the necessary permits, such as environmental compliance certificate, so it can move the project to fruition.
They similarly pushed for the drilling of the wells to assess the level of steam production that shall underpin the plant’s power generation needs for long-term electricity generation.
The Maibarara facility is being undertaken with state-run affiliate Philippine National Oil Company-Renewables Corporation (PNOC-EC) as one of the minority interest-holders.
The plant is among the committed projects that will come online alongside the coal plants deemed necessary to solve the country’s power supply dilemmas.
