Philippines:

Philippines Energy Firm to Invest $2 Billion in Geothermal Projects (Malaya)

Basic Energy Corp., based in Manila, plans to invest $2 billion in geothermal, oil and gas exploration projects, according to company vice chairman Francis Chua. He said that the company is currently negotiating with a Chinese partner for the projects.

Basic Energy has a service contract to develop geothermal energy in Mabini, Batangas. The project is located in Mabini town in Batangas. Basic Energy, through its contractor Filtech Energy Drilling Corp. has completed the preparation of the pre-feasibility study of the project which was conducted in 2011.

The contract area covered the whole of Calumpan Peninsula and based on the geothermal investigation indicate the existence of a low-temperature resource that could be suitable for small-scale power generation using binary units.

The pre-feasibility study  shows it can produce 20 MWe which is  commercially viable.

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