Philippines:

Dutch Bank Funding Mindoro Geothermal Plant Project (Manila Standard Today)

Netherlands Development Finance Co., the Dutch development bank, will partly finance the $170-million Montelago geothermal power plant project in Naujan, Oriental Mindoro, which could generate up to 70 MWe.

A Philippine-Dutch consortium made up of Constellation Energy Corp., Emerging Power Resource Holdings Inc. and IF Technology will initially construct a 44 MWe plant  along Naujan Lake in Barangay Montelago, Naujan.

The plant is expected to be operational by 2016.

Antonie de Wilde, Emerging Power chief executive, said “The geothermal base load is best suited for an island grid’s shift from bunker fuel to renewables, because it is not seasonal and has higher availability. The stability or reliability investors will seek can be provided by geothermal power”.

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