Maibarara Geothermal, Inc.
Maibarara Geothermal Project is now in advance development stage. In December 2011, DOE issues a Certificate of Confirmation of Commerciality to Maibarara Geothermal, Inc. confirming its conversion from pre-development stage to development/commercial stage. Power plant construction and steamfield development using fluid collection and reinjection system are now in on-going.
Maibarara Geothermal Power Plant can generate 20 MW of electric power emerging from two new drilled wells. PNOC RC has now entered into an Electricity Supply Agreement with Trans-Asia Oil and Energy Development Corporation. The said company shall be the off-taker of 100% of its generated electricity. Carbon credit sales were entered into agreement with Endesa Carbono which shall purchase 100% of the Certified Emissions Reductions generated.
PNOC RC started negotiations for right of way of transmission lines. Commissioning for the project was scheduled last July 2013 with a target of commercial operation by fourth quarter of 2013.