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Aboitiz Renewables secures two geothermal contracts in Mindanao

Aboitiz Renewables secures two geothermal contracts in Mindanao New Israel, Makilala, North Cotabato, Philippines (source: flickr/ Constantine Agustin, creative commons)
Alexander Richter 16 Dec 2013

Aboitiz Power Renewables (AP Renewables) has secured two additional service contracts for the geothermal concessions at Kapatagan-Sibulan and Talomo-Tico, both in North Cotabato, Mindanao, Philippines.

Aboitiz Power Renewables (AP Renewables) has secured two additional service contracts for geothermal concessions in Mindanao, Philippines.

In a statement on Friday last week, Ariel D. Fronda the Department of Energy Division Chief for Geothermal Energy Management reported that it had awarded these two concessions in Kapatagan-Sibulan and Talomo-Tico, both in North Cotabato, Mindanao.”

As part of the same announcement, the department had also awarded a service contract to Basic Energy Corp. for a geothermal concession area in West Bulusan, Sorsogon, as reported last week. The area hosts Mt. Bintacan, Mt. Tabon-Tabon, Mt. Sisigon, Mt. Malobago, Mt. Calomoutan and Mt. Sujac.

Geothermal service contracts awarded by the Philippine Department of Energy involve a five-year pre-development stage, after which the developer has to proceed to the actual development phase of the project. The said phase can run from 25 to 50 years depending on the result of the exploration.

APRI is a unit of Aboitiz Power Corp. (AboitizPower). The firm acquired the Tiwi-MakBan geothermal plants — located in Albay and Laguna — through a bidding conducted by the Power Sector Assets and Liabilities Management Corp. in 2008 after it posted the winning bid amounting to $446.888 million. The company also owns the Negron-Cuadrado geothermal service contract which covers an area that straddles the provinces of Zambales and Pampanga.

Basic holds geothermal service contracts in Mabini, Batangas; Iriga, Camarines Sur; Mariveles, Bataan; and East Mankayan — which cuts across three provinces in the Cordillera Administrative Region (Benguet, Mountain Province, Ifugao).

Source: Business World Online