By Danessa Rivera (The
Philippine Star) | Updated October 12, 2017 - 12:00am
MANILA, Philippines — The Department
of Energy (DOE) has granted Aragorn Power and Energy Corp. (APEC), the power
unit of Sy-led APC Group Inc., a one-year contract extension for its
$300-million geothermal project in Kalinga, Apayao.
In a disclosure, APC said APEC
received a letter from the DOE approving the contract term extension of its
geothermal renewable energy service contract (GRESC) 2010-03-024.
“In its letter, the DOE noted that
APEC has substantially performed its work commitments and approved the GRESC
contract extension until Sep. 24, 2018,” APC said.
APEC was granted a five-year
geothermal service contract located in Kalinga province in 2008, but this was
converted into a GRESC in late March 2010 to avail of the incentives provided
under the Renewable Energy (RE) Act of 2008.
The project involves the development
of steam fields that can generate around 100 megawatts (MW) of new capacity,
providing an additional source of clean, indigenous and reliable baseload power
to the Luzon grid.
The company has filed an application
with the DOE to renew its contract, which expired in September 2016.
Under its work program, APEC has
completed geochemical and geophysical surveys covering Sub-phases 1 and 2.
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