Energy Development Corp. (EDC) will receive a grant from the United States Trade and Development Agency (USTDA) for the conduct of a feasibility study for its planned geothermal power project.
“The Philippines is already among the world’s renewable energy leaders. Its potential capacity for geothermal, wind, solar, and hydroelectric power is significant.
By partnering with EDC, USTDA is enthusiastic about bringing additional renewable energy resources online so that people across the Philippines have a clean and reliable source of power,” said Enoh T. Ebong, USTDA’s Director.
The planned geothermal power project will have a capacity of 50 megawatts (MW) and will be located in Amacan, Mindanao. USTDA’s study will help EDC confirm geothermal resource availability and conduct initial technology and financial assessments.
The power plant will support the Philippines’s clean energy transition and reduce greenhouse gas emissions. “Geothermal energy has been providing the Philippines with baseload renewable energy and helping our country avoid at least a million tons of carbon emissions each year compared to coal. We need more of 24/7 geothermal energy in order to decarbonize our energy sector and help achieve a net zero country,” said Richard B. Tantoco, President and Chief Operating Officer of EDC.
EDC is soliciting “qualifications and proposal data” from interested US firms that are qualified on the basis of experience and capability to execute a feasibility study for the development of the planned geothermal power plant.
The deadline for the submission of the proposal is on December 9.
Currently, EDC has 1,181 MW of installed geothermal energy capacity in the Philippines.