EDC's Bacman geothermal unit resumes operations
MANILA, Philippines - Energy Development Corp. (EDC) has reopened unit 1 of its Bacon-Manito (Bacman) geothermal project in Bicol region.
EDC, the energy arm of the Lopez group, told the Philippine Stock Exchange on Monday, April 8 the plant is now operating at full capacity.
"As of 6 am (of) April 8, Bacman Unit 1 is at 55 MW (megawatts)," the company said in a disclosure.
EDC previously shut down the facility for inspection. Bacman unit 2 was also closed down due to damage caused by a turbine blade that was sheared off. The plants are located in Sorsogon and Albay.
EDC earlier announced that its 2012 core net income grew 89% to P9.89 billion on the back of strong electricity sales. The company said that it is expecting a 15% hike in revenues to P30 billion in 2013. EDC attributed its outlook to new contracts bagged by subsidiary Green Core Geothermal. - with a report from Christian Bautista/Rappler.com