Nickel Asia Corp. (NAC) projects generating an initial 2-megawatt (MW) output from its geothermal power project in Biliran province near Leyte as early as October this year.
Only in January, Nickel Asia added P2.92 billion as common share subscription at its renewable energy subsidiary, Emerging Power, Inc. (EPI).
EPI is developing pilot geothermal projects in Mindoro and Biliran. Once completed, the pilot projects may be upgraded to generate 20 MW in Mindoro and 50 MW in Biliran.
“We want to focus on the first column on BGI where we will commence commercial operations next quarter for 2 MW. BGI capacity can be extended up to another 20 MW thereafter and its full potential. There are chances of it also going up to 50 megawatts,” said Andre Mikael Dy, NAC vice president for treasury and investor relations and sales, a the week’s quarterly results briefing.
Dy said that for Mindoro, the project’s proof of concept is seen completed in the second quarter next year.
Noel Gonzales, EPI chief operating officer, estimated Nickel Asia will spend around $2 million for each MW generated by its geothermal prospects.
At present, EPI operates a 100 MW solar farm in Mt. Sta. Rita at the Subic Bay Freeport in Zambales and secured a second 100 MW solar service contract at the same site.
EPI also has a joint venture with Shell Overseas Investments B.V. which aims to build capacity of as much as 1,000 MW by 2028. It looks to contribute up to 3,000 MW more renewable capacity in a series of projects in Luzon and the Visayas.
The partners said focus is on scale solar farms while also evaluating opportunities in onshore wind and energy storage systems.
