Chevron Geothermal Philippines Holdings Inc. (CGPHI) president and general manager, Antonio Yee, said that they are planning to set up new geothermal power plants in the Philippines, instead of bidding on existing ones. In line with this, they have also expressed interest in bidding for geothermal exploration blocks that the Department of Energy (DOE) gives out.

This decision seems to have been aided in part by the passage of the Philippine Renewable Energy Act, which gives fiscal and non monetary incentives to investors who are willing to setup renewable energy projects in the country.
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Chevron (formerly known as Caltex in the Philippines) has earmarked $20 M for their ethanol projects in the Philippines in order to meet the 10% bioethanol requirement imposed by the Philippine Biofuel Law to be mixed in gasoline sold at the pump by January of 2009.

This was announced recently by Chevron brand manager Dominic Timbancaya during the launch of their E-10 blended gasoline. E-10 gasoline is gasoline mixed with 10% bioethanol. According to him, the $20M will be used for piping and tanks used in ethanol processing for the next two years.
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