The Department of Energy hopes to increase the country’s geothermal capacity by roughly 75 percent over the next 20 years given the number of committed and indicative projects now in the pipeline estimated at over P200 billion.
Data from the energy department showed that, should all the proposed projects push through, a total of 1,495 megawatts could be added to the three main grids.
At present, the country’s installed geothermal capacity stands at 1,966 MW, the bulk of which comes from the power facilities of the Lopez-led Energy Development Corp.
The DOE underscored the significance of the proposed geothermal power projects in the country’s energy security agenda, saying that the initiatives would significantly cut the Philippines’ costly fuel imports for power generation.
Of the 1,495 MW, only 70 MW have been committed so far under two projects.
Both are expansion projects that are meant to fully optimize already known fields in Palinpinon, Negros Oriental and Mt. Apo, North Cotabato.
According to the DOE, the two projects may cost around P9.45 billion.
Meanwhile, the remaining 1,425 MW of expected additional capacity are indicative power projects, or projects still in the exploratory stages, with investments seen to cost as much as P192 billion.
The DOE said the total installation target of 1,495 MW could be met by 2027.
Most of the future power facilities are expected to be commissioned between 2016 and 2020.
According to energy officials, the country’s geothermal resources are known to be of high quality since the Philippines lies in the so-called Pacific Ring of Fire.
Recent studies have shown that the country has 2,027 MW in proven reserves and 2,380 MW of potential reserves, which remain untapped.