Discharge of the first well, Mai6D on Maibarara project site, Philippines
Philippine-based geothermal developer and operator Maibarara Geothermal Inc. (MGI) has acquired three land parcels in Batangas, thus consolidating its landholdings and ensuring operational continuity.
The lots are currently being leased to MGI by the Power Sector Assets and Liabilities Management (PSALM) Corporation for the geothermal operator’s steam field and access road. Moreover, an extra lot has been acquired that will allow for outfield reinjection.
“This acquisition grants us full control over land assets that are essential to our geothermal operations. It removes uncertainties associated with leasing and positions us for long-term stability,” commented Atty. Maria Carmela Hautea, Corporate Secretary of MGI.
MGI submitted a bid of Php 473.17 million (approx. USD 8.13 million) for the lots, which span 58,911 square meters cross the cities of Santo Tomas in Batangas and Calamba in Laguna. The bid is now conditionally accepted, pending a post-qualification review of MGI’s submitted documents.
MGI is a joint venture between PetroGreen Energy Corporation, ACEN Corporation, and PNOC Renewables Corporation. The company’s first geothermal power plant, the 20-MW Maibarara 1, came online in 2014. The installed capacity of the field was then extended with the 12-MW Maibarara 2 in 2018.
In 2022, the company announced plans of building a third power plant with a power generation capacity of 10 to 30 MW.
