Green Core Geothermal to Provide CAPELCO Geothermal Energy

Green Core Geothermal Inc, an auxiliary of Energy Development Corp in Philippines, has declared the signing of a 10 year power supply agreement with Capiz Electric Cooperative (CAPELCO) to supply 12 MW power from its geothermal plants located in Leyte and Negros Oriental provinces to power 17 cities and municipalities located in the province. Currently, the company operates a 112.5 MW Tongonan geothermal plant in Leyte and a 192.5 MW Palinpinon geothermal plant Negros Oriental.

Richard Tantoco, President and COO of Energy Development, pointed out that the rates offered by geothermal energy are cheaper when compared to that of diesel and coal using power plants.

Edgar Diaz, General Manager of CAPELCO, expressed his happiness in signing the deal and added that the rates offered were lower than that of electric power produced from other sources. He added that by signing the agreement, the company meets nearly 70% percent of its energy requirement from cheaper geothermal energy and buys only 30% from other expensive power sources. He concluded saying that his company is able to offer its household and business client’s stable cheaper power produced from renewable energy sources.