The Philippines and New Zealand signed an amendment to extend geothermal energy cooperation.
The MOU was signed by Energy Energy Secretary Alfonso Cusi and New Zealand Ambassador to the Philippines David Strachan with New Zealand's new Prime Minister Jacinda Ardern witnessing the account.
The MOA aims to further strengthen and enhance the cooperation between the two countries on geothermal energy cooperation through government-level collaboration and the facilitation of private sector activities.
Market turns choppy, trades in loss on inflation fears
Wholesale inflation (WPI) too spiked to 3.59 per cent in October, from 2.6 per cent in September, official data showed today. Weakness rubbed off on broader markets, with mid-cap and small-cap indices falling by up to 0.22 per cent.
"The New Zealand government also provide some assistance to geothermal energy associations in the Philippines", Cusi said.
The MOU is a platform for New Zealand's geothermal industry to engage the Philippines in accelerating and promoting geothermal development through exchange of experiences, information, and technical assistance.
Additional data from DOE also showed that the DOE has so far approved 755 renewable projects with a potential capacity of 16,949 MW, of which projects totaling 4,522 MW were installed past year.
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