Maibarara Geothermal Inc. has acquired the land belongings the place their steam discipline and entry street are positioned, offering long-term stability to their operations.
Philippine-based geothermal developer and operator Maibarara Geothermal Inc. (MGI) has acquired three land parcels in Batangas, thus consolidating its landholdings and guaranteeing operational continuity.
The heaps are presently being leased to MGI by the Energy Sector Belongings and Liabilities Administration (PSALM) Company for the geothermal operator’s steam discipline and entry street. Furthermore, an additional lot has been acquired that may permit for outfield reinjection.
“This acquisition grants us full management over land belongings which might be important to our geothermal operations. It removes uncertainties related to leasing and positions us for long-term stability,” commented Atty. Maria Carmela Hautea, Company Secretary of MGI.
MGI submitted a bid of Php 473.17 million (approx. USD 8.13 million) for the heaps, which span 58,911 sq. meters cross the cities of Santo Tomas in Batangas and Calamba in Laguna. The bid is now conditionally accepted, pending a post-qualification assessment of MGI’s submitted paperwork.
MGI is a three way partnership between PetroGreen Power Company, ACEN Company, and PNOC Renewables Company. The corporate’s first geothermal energy plant, the 20-MW Maibarara 1, got here on-line in 2014. The put in capability of the sector was then prolonged with the 12-MW Maibarara 2 in 2018.
In 2022, the corporate introduced plans of constructing a 3rd energy plant with an influence technology capability of 10 to 30 MW.
Supply: BusinessWorld and Energy Philippines
