MANILA, Philippines?Lopez-led Energy Development Corp. targets to increase its geothermal capacity by another 300 megawatts (MW), which could make it the world?s biggest producer of geothermal energy.

?EDC is the world?s second largest producer of geothermal energy and with the help of its 33 years of experience, we expect to harness these additional 300 MW within three to five years,? said EDC director Federico R. Lopez .

In an interview with the Oxford Business Group, Lopez said these potential reserves were within the company?s concession areas, which are in Dumaguete, Negros Oriental (for the Palinpinon geothermal facility), Mt. Apo, Southern Leyte and in Legaspi/Sorsogon (for Bacon-Manito).

?The prospects for geothermal development in the Philippines remain very bright. The country?s location within the Pacific Ring of Fire brings with it many possibilities for both the conventional high-temperature geothermal steam that is generally used for power generation, and for the still untapped low-temperature geothermal,? said Lopez, who also heads parent firm First Gen Corp.

Based on EDC?s studies, Lopez disclosed that the Philippines has a high-temperature geothermal steam potential of 2,500 MW to 6,000 MW. On the other hand, the country?s potential for the low-temperature geothermal steam was estimated at about 500 MW.

EDC also bared plans to put up at least five greenfield geothermal power plants.

In an earlier interview with the Inquirer, EDC president Richard B. Tantoco said the company was looking at new plants within its five concession areas awarded by the Department of Energy. These areas, he added, give EDC an opportunity to grow by another 200 to 220 MW.

According to the DOE, the government targets to draw an additional 1,070 MW from geothermal energy sources by 2020, up from the 1,932 MW capacity in 2002. As of this year, the country draws 2,027 MW from geothermal resources.