Monday, June 13, 2016

Philippines, Mexico: EDC Looking at Geothermal Projects Abroad

EDC studying Mexico project (The Standard)

Filipino company Energy Development Corp. said it is looking at geothermal business opportunities in Mexico.

“In Mexico, we’re not doing anything yet – but we’re studying. Mexico’s energy sector is privatizing, deregulating so we want to take a look, but no concrete plans today yet,” EDC president Ricky Tantoco said.

Tantoco said while low oil prices had pushed the company to put on hold its overseas geothermal projects, EDC was optimistic it would benefit from the push for cleaner technologies.

“But you know what’s happening in Latin America, particularly in Chile, there are recently two large coal-fired power plants that were cancelled by the government. So I think the time is right for geothermal to happen there. Probably in the next one to two years,” he said.

EDC also announced the completion of the geotechnical survey of the Graho Nyabu in Indonesia, where there was an assessed potential of more than 200 MW.