STO. TOMAS, Batangas—Maibarara Geothermal Inc. on Thursday broke ground for the construction of a 12-megawatt power plant as a part of an expansion project that will bring the total capacity of the facility to 32 MW once completed by the fourth quarter of 2017.
“We target Maibarara-2 to be online by fourth quarter 2017. Thus, we expect revenues to increase further by 2018 along with our royalty remittances and tax payments to our host LGU,” Maibarara Geothermal chairman Milagros Reyes said.
Reyes said Maibarara-2 would be the fourth power station completed by parent company PetroGreen Energy Corp. in four years following the 20-MW Mainarara-1 power plant in 2014, 36-MW Nabas-wind in 2015 and the 50-MW Tarlac-1 solar facility in 2016.
Maibarara Geothermal, the owner and developer of the Maibarara geothermal power facility, is a joint-venture company owned by PetroGreen Energy Corp. with 65 percent, Phinma Energy Corp. with 25 percent and PNOC Renewables Corp. with 10 percent.