Geothermal power proves a good value in new Philippine contracts

In the Philippines, the Energy Department signed an 26 more renewable energy, including six for geothermal projects. The contracts that are expected to generate a total of 466 MW of power, 315 MW from geothermal alone, and investments of about $277 million. The GT projects will produce 68% of the energy at only 8% – $22.4 million – of the investment costs. The two biomass projects are expected to produce 47.5 MW at a cost of over $100 million. The department signed an additional six contracts for biomass projects with companies that will use the output to cover their own needs.