Business World
A GEOTHERMAL site west of Mt. Makiling has been deemed commercially viable to produce power, an investor behind the project’s development yesterday said.
Further testing, however, is still needed to determine whether current output can be sustained.
“We are pleased to announce that two geothermal wells in the Maibarara Geothermal Power project already attained commercial wellhead pressures and stable chemistry suitable for steam supply to a power plant,” listed PetroEnergy Resources, Inc. said in a disclosure to the Philippine Stock Exchange.
PetroEnergy owns PetroGreen Energy Corp. which in turn has a 65% stake in Maibarara Geothermal, Inc., the consortium in charge of the geothermal project.
PetroEnergy added “the wells have an aggregate capacity of about 15 megawatts (MW).”
“We are pleased to announce that two geothermal wells in the Maibarara Geothermal Power project already attained commercial wellhead pressures and stable chemistry suitable for steam supply to a power plant,” listed PetroEnergy Resources, Inc. said in a disclosure to the Philippine Stock Exchange.
PetroEnergy owns PetroGreen Energy Corp. which in turn has a 65% stake in Maibarara Geothermal, Inc., the consortium in charge of the geothermal project.
PetroEnergy added “the wells have an aggregate capacity of about 15 megawatts (MW).”
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