GreenFire Energy Inc., based in San Francisco, was given the Export Achievement Certificate (EAC) from the International Trade Administration for its involvement in a U.S. Trade and Development Agency (USTDA)-funded geothermal project owned by Energy Development Corporation (EDC).
In a report by the Manila Standard, GreenFire Energy said it would utilize its GreenLoop technology, an Advanced Geothermal System (AGS) as part of a USTDA project that supported EDC as the Philippines’s largest renewable energy producer.
The USTDA had previously granted funds to the EDC for the feasibility study of the Amacan geothermal plant confirming the availability of geothermal resources and conducting initial assessments of technology and finances for the eventual implementation of the Amacan geothermal project.
EDC owns the rights to the Amacan geothermal plant on Mindanao’s eastern coast offering a capacity of 1,181 megawatts (MW).
GreenFire Energy CEO Joseph Scherer acknowledges the support of the USTDA in allowing the company to maximize underutilized assets, expand geothermal power generation, and ensure the enduring sustainability of geothermal resources.
In order to support important infrastructure projects in developing nations, the US exports goods and services under the USTDA. The export certificate, on the other hand, honors US businesses that have increased the sales of new products into international markets or effectively entered new markets.