By Region,Asia,By Region,Projects - March 01, 2010
PNOC to re-enter geothermal sector with exploration contract in the Philippines
written by: lxrichter
Reported from the Philippines, “State-owned Philippine National Oil Co. (PNOC) has re-entered the geothermal sector after obtaining a geothermal exploration contract from the Department of Energy last Friday to develop the Mount Isarog volcanic chain in Camarines Sur. In a statement, PNOC said the $60-million project is estimated to generate 20 megawatts and churn out 18 gigawatt-hours of electricity a year. “The project will be connected to the Luzon grid and power generated will be sold to the local electric cooperatives and industries,” PNOC said in a statement.
The geothermal potential of Mt. Isarog is similar to that of the Tiwi geothermal field, it said.”
Source: Business World Online
This entry was posted on Monday, March 1st, 2010 at 6:21 pm and is filed under Asia, By Region, Projects. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
The sad fact is that the GMA administration made this midnight deal with PNOC through the DOE without even informing the LGUs concerned and the local residents of Cam Sur surrounding mt. Isarog!
Adding insult to injury, we Bicolanos will only get the scraps from the exploitation of our natural resources..since our power rate is still one of the highest in the country despite what we are producing in the geothermal plants in Tiwi and Bacman in Sorsogon!