APEC, subsidiary of listed APC Group, and Chevron Kalinga last Friday signed a joint operating agreement at the geothermal project, which can generate around 100MW of clean power for the Luzon grid.
Chevron Kalinga will be responsible for the exploration, development and operation of the steam field and power plant activities
The two companies also signed a farm-out agreement which APEC the option to take an equity position of up to 40% in the geothermal project, APC announced to the stock exchange.
APEC,
