News

ERC Approves Maibarara COC

October 16, 2013

The Energy Regulatory Commission (ERC), following an en banc deliberation last October 7, 2013, approved the Certificate of Compliance (COC) of Maibarara Geothermal, Inc.’s (MGI) 20 MW power facility in Sto. Tomas, Batangas. The COC approval effectively clears the way for MGI to start commercial operations of its integrated geothermal facility, the first renewable energy (RE) project under the 2008 RE Law, declared commercial by the Department of Energy in 2011.

 

MGI is a joint venture company 65% -owned by PetroGreen Energy Corp. (PGEC) a wholly-owned subsidiary of publicly-listed PetroEnergy Resources Corp. (PERC). TransAsia Oil and Energy Development Corp. (TAO) and PNOC Renewables Corp. (PNOC-RC) own 25% and 10% respectively of MGI. The firm secured a P 2.4 Billion loan from Rizal Commercial Banking Corp. (RCBC) and Bank of the Philippines (BPI) in September 2011 to partially fund the project. Construction officially started in April 2012.

 

The 20 MW Maibarara geothermal project consists of three components: the steamfield, power plant, and transmission facility. Steamfield commissioning tests started in the second quarter of 2013 and were completed by the 3rd quarter when steam quality and quantity passed. Steam blowing of the power plant was started and completed in August 2013 while the 6-km 69-kV transmission line was energized with feedback power in mid-September. A series of mechanical and electrical tests of the power plant’s main equipment, supplied by Fuji Electric, followed. With   the COC approval, the Maibarara facility is expected to go on-line for commercial operation this 4th Quarter, 2013 as originally planned.