PNOC unit to invest over $100M on 60-MW geothermal plant

MANILA, Philippines - PNOC Renewables Corp. (PNOC-RC), the renewable energy arm of state-owned Philippine National Oil Co. (PNOC), is investing more than $100 million to develop 60 megawatts (MW) of geothermal power.

PNOC-RC president Roger Buendia said they are now developing three geothermal projects in various areas in the country.

“All the three sites are in the pre-development stage. The three sites are frontier areas. Very rough estimate based on previous experiences from other geothermal projects is about $52 million per site,” Buendia said.

Specifically, he said they are developing the 20-MW Mainit-Sadanga geothermal project in Mt. Province which is estimated to generate about 148 gigawatthours of electricity per year. Its potential capacity, however, could go up to as much as 60 to 100 MW.

Another project, the 20-MW Baguias - Tinoc project in Ifugao province, is projected to generate around 148 gwh of electricity per year.

He said they would be selling the electricity to be generated from these projects to various electric cooperatives and industries.

Buendia noted that these two projects are being undertaken in partnership with Aragorn Power and Energy Corp. and Magma Energy Resources.

He said another 20 MW is now also being developed in Camarines Sur.

Apart from these new projects, PNOC-RC is participating in the 20-MW Maibarara geothermal power project situated at the western flank of Mt. Makiling.

PNOC-RC was specifically created to spearhead the development of renewable energy in the country.