The world’s largest geothermal energy producer, Chevron Corp, and local oil and gas firm APC Group have announced that they will construct a 100MW geothermal power plant in Kalinga province, Philippines.
The companies will undertake the US$300m project through their respective subsidiaries, Chevron Kalinga Ltd and Aragorn Power and Energy Corp. Chevron will explore, develop and operate the steam field and power plant. Aragorn, which can take up to 40% equity in the project, holds a government licence to extract geothermal energy from 26,000ha of land in Kalinga province, Northern Luzon.
