EDC to invest $1B in power plants in next 5 years
Inquirer.net reports that Energy Development Corp., the country’s biggest producer of geothermal energy, has been planning to start either within late 2010 or early 2011 the construction of an 86-MW wind farm in Burgos, Ilocos Norte. According to Tantoco, they expect to spend as much as $3.5 million to produce a megawatt of geothermal power through these greenfield facilities, and about $2.5 million per megawatt for its wind power project.