Philippines:

Philippines Geothermal Company Income is Up (Manila Standard Today)

Tongonan geothermal field (Courtesy
National Geothermal Association of the Philippines)

Energy Development Corp., unit of First Gen Corp., said Tuesday it registered a net income of P5.7 billion in the first six months of 2012, a reversal of the P2.3-billion loss it posted year-on-year.

The country’s largest geothermal power producer said in a statement revenues from First Gen Hydro Power Corp. and Green Core Geothermal Inc. remained the company’s major income drivers, as electricity sales increased 32 percent to P15 billion from P11.4 billion.

Green Core runs the 305 MWe Tongonan and Palinpinon geothermal plants.

Read More.....