SUMMARY
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MANILA, Philippines – Lopez-led Energy Development Corp. (EDC) announced that it is set to temporarily shut down the Unit 1 of its Bacon-Manito (BacMan) geothermal power project on Thursday, May 2.
In a disclosure to the Philippine Stock Exchange on Monday, April 29, the company said, “As planned, we will shut down Unit 1 on May 2 for an inspection. We will make further decisions concerning the unit once the inspection has been carried out.”
Last April 8, EDC announced that BacMan Unit 1 was operating at 55 megawatts (MW), its full capacity. The company earlier announced that it would shut down the facility to inspect and assess its condition after no more than 30 days.
EDC stopped operating Unit 1 as a precaution last March after the BacMan facility’s Unit 2 was decommissioned due to vibration issues. Inspections showed that Unit 2 was damaged due to a turbine blade that sheared off. BacMan Unit 2 has a plant capacity of 20 MW.
The BacMan geothermal power project is located in the towns of Bacon, Sorsogon and Manito, Albay.
EDC is the largest geothermal energy producer in the country. It posted an 89% increase in its core net income in 2012. The company’s earnings grew to P9.89 billion from P5.24 billion. It attributed the increase to the rehabilitation of power plant acquisitions and growth in electricity sales. – Rappler.com
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