2015 Annual Report

Messages

GEOTHERMAL

  • The main focus in our geothermal platform throughout 2015 was to continue to improve the resiliency and reliability of our aging geothermal plants. Our efforts included, among others: replacing and/or upgrading certain turbine rotors and control systems, as well as typhoon-proofing cooling towers. Though the short-term effect of these efforts have increased expenses, we expect to gain on the long-term benefit of stabilized performance from the plants
  • Output from our geothermal assets improved by 5.4 percent to 7,754.9 GWh primarily due to Nasulo’s full year operations, as well as BacMan’s higher dispatch after the completion of its retrofit program. BacMan’s retrofit program increased the plant’s capacity by 10 MW to 140 MW after the completion of the program in early 2015
  • However, the increase in electricity output in 2015 was slightly tempered by a four-month unplanned outage of Tongonan Unit II (37.5 MW) from March to July 2015 following blade failure in its steam turbine rotor. This resulted to opportunity losses in revenues. As a permanent solution, retrofit kits were ordered as early as January 2015 as we knew that this 33-year old plant was due for rehabilitation. The rehabilitation program is expected to augment the plant’s output by 10 MW once completed in the second half of 2017.
Nasulo’s full year operations helped improve the geothermal platform’s output.

Nasulo’s full year operations helped improve the geothermal platform’s output.

Pages: 1 2 3 4 5 6 7 8 9

GEOTHERMAL

  • The main focus in our geothermal platform throughout 2015 was to continue to improve the resiliency and reliability of our aging geothermal plants. Our efforts included, among others: replacing and/or upgrading certain turbine rotors and control systems, as well as typhoon-proofing cooling towers. Though the short-term effect of these efforts have increased expenses, we expect to gain on the long-term benefit of stabilized performance from the plants
  • Output from our geothermal assets improved by 5.4 percent to 7,754.9 GWh primarily due to Nasulo’s full year operations, as well as BacMan’s higher dispatch after the completion of its retrofit program. BacMan’s retrofit program increased the plant’s capacity by 10 MW to 140 MW after the completion of the program in early 2015
  • However, the increase in electricity output in 2015 was slightly tempered by a four-month unplanned outage of Tongonan Unit II (37.5 MW) from March to July 2015 following blade failure in its steam turbine rotor. This resulted to opportunity losses in revenues. As a permanent solution, retrofit kits were ordered as early as January 2015 as we knew that this 33-year old plant was due for rehabilitation. The rehabilitation program is expected to augment the plant’s output by 10 MW once completed in the second half of 2017.
Nasulo’s full year operations helped improve the geothermal platform’s output.

Nasulo’s full year operations helped improve the geothermal platform’s output.

Pages: 1 2 3 4 5 6 7 8 9