Geothermal areas up for bidding

The Department of Energy (DOE) is set to auction three new geothermal exploration areas for energy development. Ariel Fronda, chief of the Geothermal Energy Management Division under the Renewable Energy Management Bureau, said on the sidelines of the two-day Power and Electricity World Forum that the DOE had completed studies on the three areas.

These are Balut Island in Davao del Sur, Banton Island in Romblon, and Maricaban Island in Batangas.

Of the three prospective areas, Balut Island may be the first to be offered to investors under competitive bidding.

“We target to conduct an open and competitive selection process for the area this third quarter of 2014,” he said.