News and Features
Maibarara Geothermal Inc. (MGI) held a ceremonial groundbreaking on October 26, 2016 for its 12 MW Maibarara-2 Geothermal Power Facility (M2GPF) in Sto. Tomas, Batangas, Philippines. The event was led by Department of Energy (DOE) Assistant Secretary Atty. Richie Avigale R. Pilares and Atty. Jose M. Layug, former DOE Undersecretary. It was also graced by local government officials of Sto. Tomas led by Mayor Edna P. Sanchez and by Mr. Katsutoshi Shoji from Fuji Electric of Japan.Source: http://petroenergy.com.ph/home/news?id=news26
MGI is a joint-venture company owned by PetroGreen Energy Corp. (65%), Trans-Asia Oil & Energy Development Corp. (25%), and PNOC-Renewable Corporation (10%). PetroGreen Energy Corp. (PGEC) is a subsidiary of listed PetroEnergy Resources Corporation (PERC).
Maibarara-2 is currently the only new geothermal power station being constructed in the country. MGI Chair and PGEC President Milagros V. Reyes declared “We target Maibarara-2 to be on-line by 4Q, 2017. Thus, we expect MGI revenues to increase further by 2018 along with our royalty remittances and tax payments to our host LGU. And as important, Maibarara-2 when commissioned will be the fourth power station completed by parent company PGEC in four years following our 20MW Maibarara-1 in 2014, 36MW Nabas-1 wind in 2015 and the 50MW(DC) Tarlac-1 solar facility in 2016.
MGI President F.G. Delfin Jr. said, “The 20MW Maibarara-2 project was based on the successful drilling, completion, and from testing of wells MB-15D and MB16RD in 2014-2015. After California-based Geothermal Science, Inc. (GSI) independently validated that Maibarara reservoir has more than sufficient resources for combined M1 and M2 power generation for 25 years, the MGI partners decided to increase M2 from the original capacity of 10MW grows to 12MW. This improved the project economics that led to the signing of an offtake agreement for M2 with Phinma Energy and a ₱ 1.4B project loan with Rizal Commercial Banking Corp. (RCBC). Despite its modest size, Maibarara-2 combines the advantages of being base-loaded, not FIT-dependent, renewable, and free of harmful greenhouse gas emissions.”
The Aboitiz group plans to team up with Japanese business house Marubeni to bid for the geothermal assets of American energy giant Chevron Corp. in the Philippines and Indonesia, a deal that can give the local group greater regional footprint.
AT LEAST three big local conglomerates are looking at buying the domestic geothermal assets of American energy giant Chevron, which is seen unloading its Philippine and Indonesian geothermal units to focus on its core oil and gas businesses.
Ayala Corp., Lopez-led Energy Development Corp. and Aboitiz Equity Ventures are studying the geothermal assets of Chevron.
Read the article here: http://www.manilatimes.net/geothermal-players-seek-fit-accreditation-from-doe/280320/
Congratulations to the new International Geothermal Association (IGA) Board of Directors (2016-2019) that includes our NGAP Directors Noel Salonga and Ariel Fronda. Thanks to all the NGAP members for participating in this election.
Read the article here: http://www.mb.com.ph/drilling-starts-for-mabini-geothermal-plant-expansion/
***The IGA is now an Accredited Observer of the Green Climate Fund***
Date: 9 June 2016
Location: Bochum, Germany
The IGA extends its strategic International Advisory Function
Bochum, Germany. On 8 June 2016, the Green Climate Fund (GCF) informed the IGA about the new status of the IGA as officially accredited observer organisation to the Green Climate Fund.
The recently obtained GCF observer status means that the IGA now belongs to a vibrant network of partners and decision makers on global funding. Rights of GCF observers include the participation in GCF Board meetings, providing strategic advice on the design, development and implementation of the strategies, projects and activities to be financed by the Fund. The IGA is also entitled to make interventions relating to geothermal energy or other matters under consideration by the GCF Board.
The Green Climate Fund is the designated governing instrument created by the United Nations Framework Convention on Climate Change (UNFCCC) and was established by 194 countries during the international climate change negotiations (COP 17) in Durban, South Africa. The Fund is designed to act as the operating entity of the Convention’s financial mechanism. It aims to support a paradigm shift in the global response to climate change by allocating financial resources to low-emission and climate-resilient projects in developing countries. Renewable energy projects using geothermal energy are supported as well.
As of May 2016, the GCF has raised USD 10.2 billion equivalent in pledges from 42 state governments. The objective is for all pledges to be converted into contribution agreements within one year from the time at which they are made. In Nov. 2015, the GCF Board reached an important milestone in approving the first USD 168 million of GCF funding for climate adaptation and mitigation projects.
IGA’s collaboration with UN & international entities: The GCF observer status fits in well with the strategic IGA functions on international geothermal advisory. Since the foundation of the IGA, advisory services were continuously provided to international organisations and donor agencies such as the World Bank, IFC, KfW, and others. On a technical/ policy level close collaborations exist with renewable energy entities like IRENA, REN21, the REN Alliance and the 100% Renewable Energy initiative. In 2015, the IGA received the official UN observer status and liaises closely with the UN Economic and Social Council. The IGA regularly attends UNFCCC COP events and shows its presence with side events and a booth with the REN Alliance partners.
Contact: Marietta Sander: IGA Executive Director | Ph:+49 2343210265 | IGA@hs-bochum.de
From: The Manila Times
MGI to drill new well for Maibarara
May 11, 2016
Maibarara Geothermal Inc. (MGI) on Tuesday signed a contract with Desco Inc. for the provision of a drilling rig and services for MB-17RD, a new reinjection well in MGI’s Maibarara geothermal field in Santo Tomas, Batangas.
In a disclosure in Philippine Stock Exchange (PSE), MGI said that the well is intended to be spudded by the last week of May and programmed to reach a total depth of 1,900 meters.
MGI, the owner and developer of the Maibarara geothermal power facility, is a joint-venture company owned 65 percent by PetroGreen Energy Corp. (PGEC), 25 percent by Trans-Asia Oil (TAO) and Energy Development Corp. (EDC), and 10 percent by PNOC Renewables Corp. (PNOC RC).
PGEC is the renewable energy holding company 90 percent owned by publicly listed PetroEnergy Resources Corp. (PERC). Its 20MW Maibarara-1 integrated geothermal power facility, commissioned in February 2014, was declared the first commercial renewable energy (RE) project under the 2008 RE Law by the Department of Energy (DOE).
“The drilling of MB-17RD comes after the final investment decision for our 12MW Maibarara-2 project (M2) was approved by the MGI Board last January 18, the P1.4 billion loan from RCBC was approved last February 29, and the 20-year offtake agreement for M2 signed with TAO last April 25,” MGI President Francisco Delfin Jr. said.
“In the meantime, construction works for the expanded steamfield pipeline system by several contractors have been ongoing since early February. We are committed to completing the M2 unit by October 2017 to provide more clean, renewable and reliable baseIoad power generation for the Luzon grid without need for feed-in-tariff support,” Delfin added.
While PERC Asst. Vice President for Technical Affairs, Maria Victoria Olivar added that, “Well MB-17RD is intended to increase the reinjection capacity of the expanded Maibarara geothermal field. We will mobilize Desco Rig 30 as soon as we receive approval from the DOE of our notice of intention to drill filed last week.”