Philippine co Basic Energy gets nod for geothermal projects
Sep 13, 2012 - Philippine energy developer Basic Energy Corp on Thursday said the Department of Energy (DOE) had cleared its geothermal power projects.
In a disclosure to the Philippine Stock Exchange, the company said its applications to develop three frontier geothermal areas located in East Mankayan, Benguet, Mariveles, Bataan and Iriga, Camarines Sur had met the authority's legal, technical and financial requirements, according to a letter dated August 22 from the DOE.
The projects are part of Basic Energy's strategy for 2012 to explore new renewable energy projects. The service contracts for the projects will be executed once the company receives final approval from the authority.