Energy Secretary Vincent S. Perez said the extension will allow interested bidders more time to study their possible investment in the geothermal blocks.
"We will be giving the interested bidders four months extension from July 31 to November," Perez said.
Perez disclosed that there are two Japanese firms that have expressed keen interest to participate in at least two geothermal blocks. "They are very interested so we want to give them more time," he said.
Last June, the DOE conducted an investment roadshow in Japan to market the first Geothermal Bidding Round wherein 10 most prospective geothermal fields will be auctioned off.
The 10 promising geothermal fields, which could generate as much as 300-470 megawatt (MW) in additional capacity, are Manito-Bayabon and Rangas-Tanawon in Sorsogon; Biliran in Eastern Visayas; Amacan in North Davao; Dauin, Negros Occidental; Natib, Bataan; Mabini, Batangas; Montelago, Mindoro Oriental and Mt. Kabalian in Leyte.
Among the companies that expressed interest to participate in the geothermal bidding included one of Japan’s largest power producers Kyushu Electric Power Co., Inc. (Kyuden); West Japan Engineering Consultants, Inc. (West JEC); Kansai Power Electric Company, Inc.; Marubeni Power Systems Corporation and Mitsui & Company, Ltd.
Kyuden and its subsidiary West JEC have been active in the geothermal industry in the country with the development of existing geothermal production fields such as Bacon-Manito geothermal production in the Bicol region, Tiwi and Makiling Banahaw geothermal power plants rehabilitation, among others.
Kansai Electric, on the other hand, holds 7.5-percent interest in the San Roque multi-purpose project with Marubeni holding the majority share of 92.5 percent in the project.
But Perez did want to identify who among these Japanese firms that have indicated strong interest in the geothermal bidding round.
The Philippines is considered the world’s second largest geothermal producer with an installed generating capacity of 1,932 megawatts (MW), next to the United States.