Termination of Montelago Geothermal Power Project Service Contract
The Department of Energy (DOE) of the Philippines has terminated the service contract for the Montelago geothermal power project in Mindoro, Philippines, due to non-compliance with the work plan.
The contract, held by Mindoro Geothermal Power Corp. (MGPC), was revoked citing the company's failure to comply with developmental commitments outlined in the project's five-year work program.
The termination was due to MGPC’s failure to comply with developmental commitment as indicated in the project’s five-year work program.
Nickel Asia Corp. (NAC), the parent company of MGPC, announced the termination via a disclosure to the Philippine Stock Exchange.
In 2015, Emerging Power Inc. (EPI) estimated a potential installed capacity of 40 MW for the Montelago project based on an exploration drilling campaign.
Author's summary: Philippines' DOE terminates Montelago geothermal project contract.
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