Geo energy news briefs from Australia and The Philippines

Australia and the Philippines see developments on the business and finance side of geothermal.

*Australia: Jacobs Engineering Acquires SKM
*Philippines: Financing Secured for Oriental Mindoro Geothermal Plant

At year’s end, Jacobs Engineering Group based in California completed its merger transaction with Sinclair Knight Merz of Australia. Jacobs purchased SKM for approximately US $1.2 billion (AUS$1.3 billion) in cash.

In the Philippines, a 44-MW geothermal facility is being planned for Naujan, Oriental Mindoro. A Philippine-Dutch consortium including Constellation Energy Corp, Emerging Power Resource Holdings, and IF Technology has secured financing from the Netherlands Development Finance for the $170 million project. The plant is expected to be operational by 2016 and to supply electricity to Oriental Mindoro at a rate of P5.64 per kilowatt hour.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s