Aboitiz Power Corporation, through its subsidiary AP Renewable Inc. (APRI) has broke ground for its 17-megawatt (MW) binary geothermal power plant project in Tiwi, Albay.
Construction of the power plant is targeted for completion by the end of 2023.
APRI president Jeffrey Estrella said that the plant will add 17 MW of additional clean energy to the Luzon Grid.
He added that the Tiwi binary plant is designed to extract recoverable heat from geothermal being processed in a closed-loop system “where no harmful gas or liquid is being emitted nor waste any products are discharged to the atmosphere.”
The new binary plant is located within the 1.5-hectare Tiwi geothermal power plant and will be connected to the Luzon Grid via the 69-kilovolt Tiwi-C substation of the National Grid Corp. of the Philippines (NGCP).
In December, AboitizPower signed an engineering, procurement and construction (EPC) contract with Ormat Technologies, Inc. and Desco Inc. for the development of the binary plant.
Aboitiz Power looks to expand its renewable energy portfolio to 4,600 megawatts by the end of 2030, as part of its Massive Transformative Purpose (MTP).
Aboitiz Power recently secured a Php 20 billion loan to help fund the growth of its renewable energy portfolio. It’s looking to spend Php 190 billion within the decade to build an additional 3,700 MW of renewable energy projects.
The company looks to achieve a 50:50 balance in its energy portfolio by 2030.