Philippines Offers Sites for Geothermal Projects
The Philippines opened a tender process on Monday for 2 geothermal sites for exploration and development, hoping to expand its sources of indigenous energy and cut dependence on imported fuel, while offering opportunities to investors.
Mario C. Marasigan, director for the Renewable Energy Management Bureau said the Energy department received eight offers for two geothermal concession areas that were auctioned off. Repower Energy Development Corp.; Cabalian Bay Company, Inc.; and Aboitiz Renewables, Inc. submitted offers for area 2, which covers the Southern Leyte geothermal prospect.
Area 3 -- covering the Amacan geothermal prospect in Compostela Valley -- attracted APC Energy Resources, Inc.; Emerging Power, Inc.; Energy Development Corp.; Biliran Geothermal, Inc.; and Repower. There were no offers for areas 1 and 4, which cover prospects in Itogon, Benguet and Balut Island, Davao Occidental, respectively.
Marasigan said the DOE still had to evaluate the bids to determine if they met legal, technical and financial requirements. The winning bidders will be announced on Sept. 4, he said.
Read More.........
