GUIMARAS, March 26 (PNA) — Emerging Power Inc. (EPI) has completed the test drill for its 40-Megawatt (MW) Montelago geothermal project in Oriental Mindoro.
”EPI has conducted a successful exploration drilling of its well pads in Oriental Mindoro which were found to be capable of producing 40 megawatts of power for the Montelago Geothermal Power Project in 2016,” the company said in a statement Thursday.
It noted that contracting Quest Exploration Drilling will assist in the initial drilling stage of the geothermal project in Naujan. The approximated total project cost is USD 185 million.
EPI Chairman Antonio Zamora said the move is a forward step for the Philippines to become one of the world’s leading sources of clean geothermal power.
The company bared it expects to award the production well drilling soon since the flow test conducted Wednesday was successful.
EPI Technical Officer Antonie de Wilde said the test confirmed the geothermal reservoir could generate 35-40 MWs of capacity.
The initial drilling work started in December 2014 in Montelago, Montemayor and Melgar-B in Naujan Oriental Mindoro, after the Energy Regulatory Commission (ERC) gave its approval for the power supply agreement (PSA) for electric cooperatives in Oriental and Occidental Mindoro.
The project is expected to lower power bills by 40 percent from Php 11 per kilowatthour (kWh) to Php 6.58 per kWh in four years time. It is equal to Php 2.1 billion worth of savings.
Aside from the geothermal project, EPI is fast tracking a 10-MW solar project in Camarines Sur, a 2.5-biogas project in Quezon and a 10-MW solar and bunker hybrid project in Northern Palawan.
EPI is a local renewable energy company, utilizing power from earth, wind and fire. (PNA)