Nickel Asia Corp. unit’s geothermal deal revoked due to slow progress - BusinessWorld Online

Nickel Asia Corp. unit’s geothermal deal revoked due to slow progress - BusinessWorld Online

THE Department of Energy (DoE) terminated a service contract held by a power subsidiary of Nickel Asia Corp. (NAC) due to failure to make progress on a geothermal power project in Oriental Mindoro. In a regulatory filing on Wednesday, NAC said that the DoE issued the final and irrevocable termination of the geothermal renewable energy service contract held by Mindoro Geothermal Power Corp. (MGPC), a wholly owned subsidiary of Emerging Power, Inc…