EDC president Richard Tantoco (center) with Hyundai VP Chong Hyun Ha and Galing Power chairman Yoon Ho Chung
Energy Development Corporation (EDC) has signed a design and equipment supply contract with Hyundai Engineering Co., Ltd. and a construction services contract with Galing Power & Energy Construction Co. Inc., both dated September 15, 2015, for the engineering, procurement and construction of its 31-MW Bacman 3 geothermal power plant in barangays Capuy, Bucalbucan, Rizal and Bulabog, Sorsogon City.
The Bacman 3 project has an estimated project cost of P7.6 billion and is targeted to be completed and operational by the last quarter of 2017.
“Given its specifications, the Bacman 3 power plant is expected to withstand harsh weather conditions and improve plant reliability. Once operational, the Bacman 3 project will augment the power-generating capacity of the Luzon grid and address the projected demand growth in the region with clean and affordable power,” EDC Business Development vice president Vincent Villegas said.
The Bacman 3 project will reduce greenhouse gas emissions by about 270 kilotons of CO2 annually if a similar capacity of fossil-fired power plant were to be built.
EDC owns and operates 1,169MW of integrated geothermal projects in Leyte, Negros, Bicol and North Cotabato. The addition of the Bacman 3 project to EDC’s geothermal portfolio solidifies its leadership in the Philippine geothermal industry.
It also successfully commissioned the 150-MW Burgos Wind Project, the largest in Southeast Asia. Aside from geothermal and wind, EDC also operates hydropower and solar energy plants.