Basic Energy gets 3 Philippine geothermal Contracts

Basic Energy won three geothermal service contracts that enables it to explore energy resources in undeveloped areas.

The contracts awarded by the Department of Energy covered those in East Mankayan in Benguet; Mariveles in Bataan; and Iriga in Camarines Sur.

The group said that its application with the department for these prospects “have passed the legal, technical and financial requirements” as prescribed.

The company has explained that “these projects are in line with (its) 2012 business thrust to look into new projects in renewable energy development and production.”

Many of the companies exploring geothermal energy resource developments have been re-focusing attention on “frontier areas”; with most of the high-yield areas already developed and contributing to the country’s power supply.

The Philippines ranks second globally in geothermal energy.

With expectations of higher potential, the energy department is pushing for the conduct of a new study to update data on the country’s geothermal reserves as well as identify the sites which may still yield commercial-scale outputs.

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