Thailand based Bangchak Petroleum looks at geothermal investments

The Imperial Palace, Bangkok, Thailand (source: flickr/ puuikibeach, creative commons)
Alexander Richter 7 Dec 2012

Thailand based Bangchak Petroleum is looking at geothermal investments in Indonesia and the Philippines as part of its overall strategy to diversify its business portfolio.

Reported from Thailand today, oil company Bangchak Petroleum is looking at strategy options and will “continue to focus on green energy technology, including products and power plants for the next ten years.”

While the company believes that its options within Thailand are limited, it sees investments in the Asean countries, such as Indonesia or the Philippines as possibility for his company.

The company has been studying alternative energy technology especially power plants because this is part of its strategy to balance its business portfolio in the long term.

Currently the cost of geothermal power is – so the company  – still higher than other options but the compay needs to prepare for the future when the price of electricity rises to cover the cost.

Source: Thailand The Nation