Green Core to supply Capiz wtih 12-MW geothermal power

Green Core Geothermal Inc., a subsidiary of Energy Development Corp., will supply Capiz province with 12 megawatts (MW) of power from its geothermal plants in Leyte and Negros Oriental. In a statement Thursday, Green Core said it signed a 10-year power supply agreement with Capiz Electric Cooperative (CAPELCO) to energize 17 cities and municipalities in the province. The firm operates the 112.5-MW Tongonan geothermal plant in Leyte and the 192.5-MW Palinpinon geothermal plants in Negros Oriental. Energy Development president and COO Richard Tantoco pointed out that the rates of geothermal energy "are cheaper compared to those offered by coal and diesel-fired power plants." "We're very happy with this deal because of the low rates of geothermal compared with other sources," said CAPELCO general manager Edgar Diaz. He added: "It's good that we get 70 percent of our supply from [Green Core's] geothermal plants and only 30 percent from more expensive sources. We are able to provide both our residential and industrial customers with clean, stable and affordable power." Early this year, Green Core sealed long-term power supply deals with the Aklan Electric Cooperative and Iloilo Electric Cooperative. "Geothermal plants are major sources of electricity in our country. In fact, the Philippines is the second largest producer of geothermal energy in the world after the US," Energy Regulatory Commission chairperson and CEO Zenaida Ducut said. —JE, GMANews.TV