DOE Terminates Nickel Asia's Montelago Geothermal Contract
The Department of Energy (DOE) has permanently canceled the service contract for the Montelago Geothermal Power Project in Oriental Mindoro.
This decision was made due to missed milestones by Mindoro Geothermal Power Corporation (MGPC), a subsidiary of Nickel Asia Corporation (NAC) through its unit Emerging Power Inc.
In a disclosure to the Securities and Exchange Commission on October 15, 2025, NAC revealed that MGPC received notification on October 13 of the "final and irrevocable termination" of Geothermal Renewable Energy Service Contract No.
The Department of Energy (DOE) has permanently canceled the service contract for the Montelago Geothermal Power Project in Oriental Mindoro, citing missed milestones.
Author's summary: DOE cancels Nickel Asia's geothermal contract due to missed milestones.