Philippine National Oil Co. (PNOC) subsidiary, PNOC-Renewables Corp (PNOC-RC) along with its private partner, Magma Resources, has acquired two new geothermal exploration contracts. The contracts are located in Northern Luzon and were awarded by the Department of Energy (DOE). These are the 20 MW Mainit-Sadanga and the 20 MW Buguias-Tinoc geothermal prospects. These two sites are projected to have an investment potential worth $120 million.
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Oriental Energy and Power Generation Corp (OEPGC) recently had four of its mini-hydro electric projects service contracts approved by the Department of Energy (DOE). This brings to 5 the total of mini hydro electric projects that they have in the country.
The recently approved service contracts were for the 15MW Culaman in Manolo Fortich Bukidnon in Mindanao and for the construction of mini hydro’s in the upper, middle and lower parts of the Odiangan River in Misamis Oriental that will generate a total of 22 MW.
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Smith Bell Mini-Hydro Corp (SBMHC) announced that they will build a P180 M mini hydro power plant in Solano, Nueva Vizcaya. This plant will have two turbines that each can generate 900Kw of electricity. The electricity will then be sold to the Nueva Vizcaya Electric Cooperative Inc. (NUVELCO). Operation is expected by December.
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The battle for the privatization of the 246 MW Angat Hydroelectric Power Plant in Norzagaray Bulacan gets competitive as major players announced their intent to join in the public bidding that is going to be conducted by Power Sector Assets and Liabilities Management Corp. (PSALM).
Those conglomerates who expressed their intent to bid for the project were the Ayala Group (in partnership with Metro Pacific Investments Corp.), San Miguel Corp., Aboitiz Power Corp, and the Lopez Group’s First Gen Holdings Corp.
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The government’s Philippine Agricultural Development and Commercial Corp announced that they would be conducting a roadshow in the United States in order to attract companies that can bring in Cellulosic Bioethanol production to the Philippines.
According to them they received word from the United States Department of Agriculture that the technology is ready for commercial applications. (This I got to see!)
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The Philippine Economic Zone Authority (PEZA) has approved last January 15th the creation of the P55 million Cavite Biofuels Ecozone applied for by the Cavite Biofuel Producers Inc (CBPI). All that’s needed now is a presidential proclamation in order to make it official as an Agro-Industrial Economic Zone.
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