Aboitiz eyes more wells at 400-MW Philippine geothermal complex

Aug 30, 2013 - Aboitiz Power Corp (PSE:AP) wants to drill additional wells in a bid to boost above 400 MW the capacity at the Tiwi-Makban geothermal complex in the Philippines, president Erramon Aboitiz told reporters earlier this week.

The Philippine-based company acquired the Tiwi and Makban power plants in 2008 as part of a government tender. When it bought the facilities they were producing at 460 MW, but due to natural degradation of steam, capacity is now 400 MW. Philippine Geothermal Production Co Inc, a joint venture of Chevron Geothermal Inc and Philippines' diversified group SM Investments Corp (PSE:SM), runs the steam fields for the two plants.

Aboitiz and Philippine Geothermal Production intend to examine each prospect of wells and calculate the possible paybacks. Erramon Aboitiz said, as cited by Manila Standard Today, that there was no fixed programme yet for the additional wells, but added that it was possible to at least raise capacity to the earlier 460-MW level.

Meanwhile, Aboitiz has invested USD 150 million (EUR 113m) to push up the availability factor at each the Tiwi and MakBan geothermal plants by 25% and 15%, respectively.

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