By Lenie Lectura July 3, 2020
Lopez-led Energy Development Corp.
(EDC) on Thursday welcomed the recent pronouncements of the Department of
Energy (DOE) that it will intensify the development of geothermal energy in the
Philippines.
EDC said this puts the Philippines
on the path to achieving the targeted 35-percent mix in the country’s energy
portfolio.
“Prioritizing RE [renewable energy]
will not only help the country become more resilient to energy challenges as it
is indigenous, but will also help the economy attract more companies and
investors who are making the pivot toward sustainable and ‘green’ practices in
their business operations,” said Marvin Bailon, EDC’s head of business
development, trading and marketing.
“We highly welcome the DOE’s recent
directives to explore and maximize geothermal energy sources in the country,
and especially to reclaim our rightful place in the global energy sector as one
of the top producers of geothermal energy.”
EDC is the world’s largest
vertically integrated geothermal energy company, with technical expertise in
wet steam field technology since 1976. It is also currently the country’s
largest RE maker, providing 42 percent of the Philippines’ total generated RE
output and around 11 percent of overall electricity demand with its total
installed capacity of 1,473.3 megawatts (MW). Bulk of its portfolio is
geothermal energy at 1,179 MW, accounting for 61 percent of the country’s total
installed capacity for the energy source.
Other sources in EDC’s clean energy
portfolio include 150 MW of wind, 132.5 MW of hydroelectric and 11.97 MW of
solar energy.
Strides have already been achieved
in making renewable energy, such as geotherma,l available to the retail
electricity market, starting with customers that have a power requirement of at
least 750KW.
“Over the past year, we have seen an
increase in customers going for geothermal energy as part of their
sustainability plans. Most of these companies are local and international
companies who are working to reduce their carbon footprint. We are delighted
that we are able to help them in attaining their sustainability goals,” said
Bailon.
Energy Secretary Alfonso G. Cusi
earlier stressed the need to maximize geothermal and hydro energy utilization,
as these are reliable baseload power sources, crucial for the country’s
commercial and industrial needs.
“A few days ago, I have asked my
team to prepare a formal DOE order on initiatives and guidelines that would
promote geothermal energy. And as soon as it is on my desk, I will sign the
order right away,” said Cusi.
Cusi directed his team to prepare a
formal directive that would contain initiatives and guidelines on how to
promote geothermal energy development and increase its utilization, as said
resource is indigenous to the country.
He also wants the country to reclaim
its status as the world’s second largest geothermal producer. After many years
of placing second in the world ranking, the Philippines now ranks third after
Indonesia. The United States occupies the top post.
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