By Amy R. Remo
Philippine Daily Inquirer
Filed Under: Energy, Electricity Production & Distribution
MANILA, Philippines—The Lopez-led First Gen Corp., along with its subsidiaries and affiliates, will embark on an aggressive expansion of existing generating facilities to increase total capacity by almost 500 megawatts over the next four or five years.
Francis Giles Puno, president and COO of First Gen, disclosed that the company would pursue various expansion projects within the existing geothermal concession areas of Energy Development Corp., namely, the 20-MW Nasulo, 50-MW Mindanao 3, 40-MW Bacon-Manito3 and 40-MW Kayabon power projects.
Another subsidiary, First Gen Renewables Inc., applied for renewable energy service contracts with the Department of Energy for 14 wind sites and has been given priority over six sites. These are located in Luzon and Northern Mindanao.
According to Puno, First Gen is looking at a wind power portfolio of about 200 MW to be put up over the next four years. While Puno did not give investment figures, company officials expect to spend $2.5 million to produce a megawatt of wind power. This means that for a 200-MW portfolio, the company has to spend as much as $500 million or about P22.5 billion for wind power projects.
Read here
Philippine Daily Inquirer
Filed Under: Energy, Electricity Production & Distribution
MANILA, Philippines—The Lopez-led First Gen Corp., along with its subsidiaries and affiliates, will embark on an aggressive expansion of existing generating facilities to increase total capacity by almost 500 megawatts over the next four or five years.
Francis Giles Puno, president and COO of First Gen, disclosed that the company would pursue various expansion projects within the existing geothermal concession areas of Energy Development Corp., namely, the 20-MW Nasulo, 50-MW Mindanao 3, 40-MW Bacon-Manito3 and 40-MW Kayabon power projects.
Another subsidiary, First Gen Renewables Inc., applied for renewable energy service contracts with the Department of Energy for 14 wind sites and has been given priority over six sites. These are located in Luzon and Northern Mindanao.
According to Puno, First Gen is looking at a wind power portfolio of about 200 MW to be put up over the next four years. While Puno did not give investment figures, company officials expect to spend $2.5 million to produce a megawatt of wind power. This means that for a 200-MW portfolio, the company has to spend as much as $500 million or about P22.5 billion for wind power projects.
Read here
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