Nickel Asia unit acquiring Biliran geothermal project - Inquirer.net
Published February 23, 2026
Nickel Asia Subsidiary to Acquire Biliran Geothermal Project
Nickel Asia Corporation (NAC) has announced that its subsidiary, Emerging Power Inc. (EPI), is set to acquire the geothermal project located in Biliran, Philippines. This acquisition is part of NAC's broader strategy to expand its renewable energy portfolio and contribute to the country's shift toward sustainable energy sources.
In a disclosure to the Philippine Stock Exchange, Nickel Asia revealed that EPI has signed a definitive agreement to purchase a 100% ownership stake in the Biliran Geothermal Project from Biliran Geothermal Inc. (BGI). The transaction is valued at approximately ₱1.38 billion, which is equivalent to about $25 million. This move underscores NAC's commitment to enhancing its renewable energy capabilities, particularly in the geothermal sector.
The Biliran Geothermal Project is situated on Biliran Island, which is known for its rich geothermal resources. The project has a potential capacity of 50 megawatts (MW), which can significantly contribute to the energy needs of the region. The acquisition is expected to provide a reliable source of clean energy, helping to reduce the country's dependence on fossil fuels.
NAC's decision to invest in the Biliran Geothermal Project aligns with the Philippine government's goal of increasing the share of renewable energy in the national energy mix. The government's Renewable Energy Act encourages the development of renewable energy resources, aiming to achieve a 35% share of renewables in the energy mix by 2030.
Emerging Power Inc. has been actively involved in the development of renewable energy projects in the Philippines. The company previously developed the 20 MW geothermal power plant in the province of Negros Oriental, which has been operational since 2016. EPI's experience in geothermal energy development positions it well to successfully manage and operate the Biliran project.
The acquisition is expected to be completed within the next few months, pending the necessary regulatory approvals. Once operational, the Biliran Geothermal Project is anticipated to provide significant benefits to the local economy, including job creation and increased energy security for the region.
NAC's strategic focus on renewable energy comes at a time when the demand for clean and sustainable energy sources is on the rise. The company aims to diversify its energy portfolio while contributing to the global effort to combat climate change. By investing in geothermal energy, NAC is taking a proactive approach to support the transition towards a more sustainable energy future.
In addition to the Biliran project, Nickel Asia is also exploring other renewable energy opportunities, including solar and wind power projects. The company's commitment to sustainability is reflected in its ongoing efforts to reduce its carbon footprint and promote environmental stewardship.
The Biliran Geothermal Project acquisition marks a significant milestone for Nickel Asia and its subsidiary Emerging Power Inc. As the Philippines continues to pursue its renewable energy goals, the successful development of this geothermal project will play a crucial role in enhancing the country's energy landscape.
As the energy sector evolves, Nickel Asia's strategic investments in renewable energy projects will not only benefit the company but also contribute to the overall growth and sustainability of the Philippine economy. The Biliran Geothermal Project is poised to be a key player in the country's transition to a greener and more sustainable energy future.
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