PH in running to host ‘Olympics’ of geopower

Hoping to build more steam in energy development, the Philippines has announced its bid to host the 2020 World Geothermal Conference (WGC), which is expected to draw the attention of thousands of potential investors.

“WGC is like the Olympics of the geothermal industry,” said Benjie Aquino, president of National Geothermal Association of the Philippines (NGAP). “It’s held every five years and brings in the top players in the field.”

Through NGAP, the Philippines is competing against Chile, the United States, Kenya, Iceland, Germany and the Netherlands. Proposals were presented to directors of the International Geothermal Association (IGA), which held a board meeting in Manila last weekend.

“The Philippines is second globally in geothermal power and we still have a lot more potential resources to tap. We highlighted this in our presentation and, of course, our country’s natural beauty and Filipinos’ well-known hospitality to guests,” Aquino said.

The Philippines is Asia’s pioneer in geothermal energy and the second largest producer in the world, next to the United States.

The WGC was established in Iceland in 1995.

International studies say the Philippines has a vast potential for renewable energy.

As for the Department of Energy (DOE), it said it hoped to triple the country’s renewable energy capacity by 2030 while ensuring reliable and efficient energy supply for businesses and households alike.

The Philippines is estimated to need some P556.7 billion worth of investments from 2012 to 2030 to meet its program targets.

According to Energy Secretary Carlos Jericho Petilla, while coal-fired power projects dominate the country’s power supply mix because of the relatively low price of coal and the comparatively shorter time it takes to put up power plants, new technologies in geothermal power and other technologies have made renewable energy more viable and attractive investments that may ensure diverse, sustainable power generation.