Sunday, September 09, 2012

Chile asks PH to invest more in geothermal

Chile has asked the Philippines to increase its investments in geothermal energy.

Energy Secretary Rene Almendras said Chilean President Sebastian Piñera Echenique also asked President Benigno Aquino III if the Philippines could share its framework for the privatization of geothermal projects during bilateral talks at the sidelines of the 20th Asia Pacific Economic Cooperation summit on Saturday.

The Philippines ranks second to the United States in terms of geothermal energy pro.

"We promised to help them (Chile) with the regulatory framework and some of the things that we have done to encourage such investments," Almendras said.

In turn, the Philippines sought Chile's cooperation on best practices in terms of responsible mining as well as improving tax revenues and curbing tax evasion.

Piñera also invited Aquino to visit Chile soon to further bilateral relations between the two countries.-Interaksyon (September 08, 2012 5:03PM)

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