Philippines Geothermal Deals Approved (Business Mirror)
Basic Energy Corp. of Makati City in the Philippines, said on Thursday it recently received the country's Department of Energy’s (DOE) approval of its applications for geothermal renewable energy service contracts for three frontier areas, namely in East Mankayan in Benguet, Mariveles in Bataan, and Iriga in Camarines Sur.
In a disclosure to the Philippine Stock Exchange (PSE), Basic said it has passed the legal, technical and financial requirements prescribed by the DOE for these areas. The projects are in line with the 2012 business thrust to look into new projects in renewable energy development and production.
Basic added that it seeks to expand its lineup of projects for the exploration and development of geothermal energy resources, hydropower and biomass energy for power generation.
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