Nickel Asia invests into Montelago project, PhilippinesLanding site for the rig at Melgar B in MindoroFrancisco Rojas 1 Sep 2014Nickel Asia will provide a collateralized one-year loan of $12.6 million to Emerging Power Inc., the project proponent, to partially finance the drilling of the project’s two initial geothermal wells. <a href='//ads.thinkgeoenergy.com/delivery/ck.php?n=a886266d&cb=0' target='_blank'><img src='//ads.thinkgeoenergy.com/delivery/avw.php?zoneid=144&cb=0&n=a886266d' border='0' alt='' /></a> <a href='//ads.thinkgeoenergy.com/delivery/ck.php?n=a62ebb80&cb=0' target='_blank'><img src='//ads.thinkgeoenergy.com/delivery/avw.php?zoneid=34&cb=0&n=a62ebb80' border='0' alt='' loading="lazy" /></a> <a href='//ads.thinkgeoenergy.com/delivery/ck.php?n=ada237ed&cb=0' target='_blank'><img src='//ads.thinkgeoenergy.com/delivery/avw.php?zoneid=10&cb=0&n=ada237ed' border='0' alt='' loading="lazy" /></a>Nickel Asia Corp. (NAC) announced a revision in the terms of its investment in the Montelago Geothermal Plant project, Occidental Mindoro. The Montelago Geothermal Plant project involves the drilling of the Montelago field and, should the holes meet the minimum power generation criteria, the installation of up to 40-MW of power generating units at a projected cost of $185 million. EPI is advancing other renewable energy projects within the country, chief of which is a 70-MW wind project in the province of Camarines Sur. Other renewable energy projects being advanced by EPI is a 10-MW solar project in Camarines Sur, a 2.5-MW biogas project in Quezon and a 10-MW solar and bunker hybrid project in northern Palawan.