Energy Development Corp. (EDC) has secured a grant from the US Trade and Development Agency (USTDA) for a feasibility study on a planned geothermal power plant in Mindanao.
In a report by the Philippine Star, EDC’s planned Amacan geothermal project is looking to have a capacity of around 50 megawatts (MW).
The feasibility study will help EDC in confirming geothermal resource availability and conduct initial technology and financial assessments for project implementation.
USTDA director Enoh Ebong said with its partnership with EDC, they are enthusiastic about bringing additional renewable energy sources online “so that people across the Philippines have a clean and reliable source of power,”
Ebonng stressed that USTDa’s assistance would catalyze private sector investment in geothermal technologies that US companies are in a good position to supply.
EDC president and CEO officer Richard Tantoco said that geothermal energy has been providing the country with baseload renewable energy and has helped the country avoid around a million tons of carbon emissions a year versus coal.
He added that the Philippines needs more 24/7 geothermal energy to decarbonize the energy sector and help achieve a net zero country.
