Korea to study geothermal resources and possible investments in the Philippines
The Korea International Cooperation Agency (Koica) has sought the Philippines' Department of Energy’s approval to allow it to conduct feasibility studies on geothermal sites in Mindoro, Bohol and Bukidnon.
According to local news, “The Korea International Cooperation Agency (Koica) has sought the (Philippines’) Department of Energy’s approval to allow it to conduct feasibility studies on several geothermal sites in the country, looking at exploring the country’s geothermal resources.
A source who requested anonymity said Koica had submitted a proposal to conduct feasibility studies in early December. According to the source, Koica assured the Philippine government will not spend a centavo on the studies.
The source said Koica was looking at conducting feasibility studies in Mindoro, Bohol and Bukidnon.
The source added the aforementioned areas are projected to have geothermal resources.
And once proven to have geothermal reserves, the source said, Koica could be expected to bring investors to the country.
The source said Koica officials from South Korea’s Kolon Construction Co. visited the country and expressed interest in putting up power plants for prospective investors.
Korea’s largest power firm Korea Electric Power Corp. (Kepco) has earlier conducted a study on the possibility of rehabilitating the Bataan Nuclear Power Plant (BNPP).”
Source: Business Mirror