20 MW MAIBARARA Geothermal Power Plant Contract Signing

From Maibarara Geothermal, Inc.

Last Sept. 2, 2011, EEI Corporation was awarded by Maibarara Geothermal Inc. (MGI) an Engineering, Procurement, and Construction (EPC) contract to construct the 20MW power plant for its geothermal project in Sto. Tomas, Batangas.

MGI is a joint-venture firm composed of Trans-Asia Oil and Energy Development Corp., PNOC Renewables Corp., and PetroGreen Energy Corp., a wholly-owned subsidiary of publicly-listed PetroEnergy Resources Corp.

EEI, one of the country's top engineering and construction firms, has extensive experience in the construction of geothermal facilities, having provided various engineering design and construction services to companies like PNOC EDC, NPC, PGI and EDC as far back as 1982 when it built the geothermal brine pipeline for PNOC EDC's Tongonan geothermal field.

For the Maibarara EPC contract, EEI has tapped Tokyo's Fuji Electric for the design, manufacture, delivery, and testing of the main equipment for 20 MW power plant while EEI will undertake the civil works, erection, balance of plant requirements, and over-all project management.

MGI also signed with Fuji Electric an agreement for services related to the operations and maintenance of the power plant.

MGI President Francisco Delfin Jr said that "the signing of the two contracts marks another significant milestone in MGI's timely and substantive compliance with our DOE service contract commitments". Delfin welcomed the two private firms in the Maibarara project's growing network of partners and added that the high quality and reliability of services for which both EEI Corp. and Fuji Electric are known in the industry should serve the project well.

Roberto Jose Castillo, EEI Corp. President and CEO, assured MGI of the highest quality of engineering design, construction, and management for the EPC contract. "EEI, along with our sub-contractors, will bring nearly 30 years of geothermal construction experience in this venture to give MGI significant value for its money," Castillo stated.

Fuji Electric Sales Manager Kazushige Yokoyama declared that the selection of Fuji Electric as the main equipment supplier and as technical advisor for the plant operations and maintenance testifies to Fuji Electric's well deserved reputation as a global leader in the manufacture of geothermal power plant equipment.

DOE Director Mario Marasigan witnessed and welcomed the signing of the contracts and commended MGI for its faithful compliance to its DOE obligations. More importantly, he announced that of all the DOE upstream projects initiated and implemented entirely under the framework of the 2008 Renewable Energy (RE) Law, Maibarara holds the distinction of being the first to reach the significant milestone of EPC and O&M contract awards. Marasigan declared that "this signing brings the project closer to its 2013 target commercial operation date that will add baseload, clean, and renewable power supply to the Luzon grid at the time when the Grid is projected to experience supply constraints." He enjoined MGI, EEI Corp. and Fuji Electric to look beyond geothermal projects and consider investments in other RE ventures in the country as well.

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