Energy Development Corp. (EDC) will receive a grant from the US Trade and Development Agency (USTDA) to conduct a feasibility study for a planned geothermal energy project.
“The Philippines is already among the world leaders in renewable energy. Its potential capacity for geothermal, wind, solar and hydroelectric power is significant.
By partnering with EDC, USTDA is enthusiastic about connecting additional renewable energy sources to the grid so that people in the Philippines have a clean and reliable source of energy,” said Enoch T. Ebong, director of USTDA.
The planned geothermal power plant will have a capacity of 50 megawatts (MW) and will be located in Amakan, Mindanao. The USTDA study will help EDC validate the availability of geothermal resources and conduct an initial technology and financial assessment.
The power plant will support the Philippines’ transition to clean energy and reduce greenhouse gas emissions. “Geothermal power provides the Philippines with a basic renewable energy source and helps our country avoid at least a million tons of carbon emissions per year compared to coal. We need more 24/7 geothermal power to decarbonize our energy sector and help achieve zero emissions in the country,” said Richard B. Tantoko, President and COO of EDC.
The EDC is soliciting “qualification and bid data” from interested US firms that are qualified based on experience and capability to carry out a feasibility study for the construction of a proposed geothermal power plant.
The deadline for submitting proposals is 9 December.
EDC currently has 1,181 MW of installed geothermal capacity in the Philippines.