TODAY'S BUSINESS HEADLINES

For 3rd time, bidding for MRT3 maintenance contract deferred

Maynilad, First Pacific scouting for possible projects in Southeast Asia

PSEi slips to 7,268.91 after weak imports data, concern over global economy

1Q imports contract as electronics fail to pick up

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EDC eyes resumption of Bacman plant operations this year

InterAksyon.com means BUSINESS

MANILA - Energy Development Corp. expects to resume operations of the shuttered Bacon-Manito geothermal power plant within the year.

EDC said it expects to complete the commissioning and reliability runs on the 130-megawatt Bacman plant within the year.

The company had planned to complete the repairs in the third quarter but moved this to the end of this year after finding issues in the two generating units' turbine rotors.

"The issue with both 55-megawatt generator rotors has been resolved and we expect the units to be on site by September," the company said.

Alstom SA of France is handling the repair work in its workshop in the United Kingdom.

Bacman's third generating unit, which has a 20-megawatt capacity, is undergoing repair and tests in the country and is expected to be commissioned by November.

Early in the year, EDC resumed operation of the third generating unit, allowing the company to pocket P400 million in the first half.

EDC, which operates the steamfield in Sorsogon and Albay where the Bacman plants are located, had to undertake rehabilitation of the power complex after government privatized the facilities in 2009. 

As a result, the company had to absorb P1.2 billion in foregone steam field revenues.

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