APC Group executive vice president and chief finance officer Jackson Ongsip said in an interview during the annual stockholders’ meeting the company would drill two exploration wells to determine the reserves of the geothermal prospect.
“If the exploration wells will prove the existence of a commercial source, we will start the construction of a power plant soon after. Construction of power plant may take two to three years to complete,” Ongsip said.
He said exploration activities would be completed by 2016 and that the power plant might come on stream by 2019 to 2020.
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