Geothermal

Philippine Government to Sell 40% of Geothermal Energy Unit

[FinanceAsia.com] In a deal that could raise up to $380 million, the Philippine government launches its first privatization in 12 years. PNOC Energy Development will kick off the roadshow for the international portion of its up to $380 million initial public offering today, in what will be the first privatization in the Philippines in 12 years. The government is looking to sell up to 40% of PNOC-EDC, a wholly owned subsidiary of Philippine National Oil Company that produces approximately 60% of all geothermal energy in the country.