SMIC laying out P 3B for six new geothermal energy sites

SM Investments Corp. (SMIC) plans to invest more than $50 million or over P3 billion to develop six new geothermal concessions this year as part of its push into renewable energy. The group’s geothermal unit, Philippine Geothermal Production Company Inc., currently operates two steamfields—the Mak-Ban geothermal field in Calabarzon and the Tiwi geothermal field in