Philippines:

Maibarara Geothermal Gets Green Light To Sell Electricity (BusinessWorld Online Edition)

(Courtesy Maibarara Geothermal Inc.)

Maibarara Geothermal, Inc. (MGI), a unit of listed PetroEnergy Resources Corp., has secured approval to sell power from its 20 MWe geothermal plant through the country’s electricity trading platform, the parent said in statement yesterday.

PetroEnergy said the Philippine Electricity Market Corp. (PEMC) authorized MGI’s 20 MWe plant in Batangas “to be a direct trading participant in the Wholesale Electricity Spot Market (WESM) effective Nov. 4, 2013.”

MGI President Francisco G. Delfin, Jr. said in the statement that sales will begin upon start of the plant’s commercial operations.

MGI secured a certificate of compliance for the 20 MWe power plant from the ERC last month.

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