Firm to explore geothermal energy in Kalinga and Apayao

MANILA, Philippines - A subsidiary of listed holding company APC Group Inc. has been granted the right to explore an area in Kalinga and Apayao provinces for possible geothermal energy development. In a statement to the Philippine Stock Exchange, APC said subsidiary Aragorn Power and Energy Corp. and partner Guidance Management Corp. were granted a geothermal service contract (GSC) by the Department of Energy. The area is estimated to have a potential of 120 megawatts to 200 megawatts in power generation. "Under the GSC, APEC and GMC shall be responsible for geothermal operations which shall include geothermal exploration, development and production," the statement said. Besides energy-related projects, APC has investments in telecommunications, mining, and manpower outsourcing businesses. - GMANews.TV