MANILA, Philippines - The Energy Development Corp. (EDC), the Lopez-led geothermal company, said yesterday that it has resumed the operations of unit 1 of Bacon-Manito (BacMan) geothermal plant in Albay.
In a disclosure to the Philippine Stock Exchange (PSE), EDC said the plant’s unit 1 is now running at full capacity.
The Lopez-led company said it would again shut down unit 1 after 30 days of operation to inspect and assess its condition.
In February, EDC commenced commercial operations of the BacMan plants after successfully rehabilitating the facility, which had been shut down since 2009.
Located in the towns of Bacon, Sorsogon and Manito, Albay, BacMan consists of two plants. BacMan I comprises two 55-megawatt turbines and BacMan II has two 20-MW geothermal facilities.
In May 2010, EDC acquired the plant from the government with a winning bid of $28.25 million in an auction conducted by the Power Sector Assets and Liabilities Management Corp. (PSALM.
EDC earlier announced that its core net income grew 89 percent to P9.89 billion in 2012 due to strong electricity sales.