San Miguel studying foray into geothermal power

ABS-CBN News

Posted at Jun 13 2017 01:16 PM

MANILA - San Miguel Corp said Tuesday it was considering investing in geothermal power to expand its energy portfolio.

The conglomerate is "evaluating the viability" of Pan Pacific Power Philippines Corp's Mt. Cagaua-Baua project in Cagayan Valley and Cervantes prospect in Ilocos Sur and Abra, it told the stock exchange.

"We advise that San Miguel Corp contemplates to participate and invest in the development of geothermal energy projects to further expand its energy portfolio and provide cost-effective alternatives for consumers," San Miguel told the stock exchange.

San Miguel shares were up 0.19 percent to P103.20 at noon on Tuesday.