malaysiangGeothermal power firm Energy Development Corporation (EDC) targets to have an aggregate installed capacity of some 83 megawatts (MW) of clean and renewable energy up and running in the country by the end of the year.
This is part of a large-scale target by its mother company, First Philippine Holdings (FPH), to reach its target of net zero carbon emissions while helping the country in its transition to clean energy, EDC corporate communications head Frances Ariola told the Philippine News Agency on Monday.
‘This is how the Lopez Group meets its net zero program by providing clean and renewable energy, the primary strategy to lower its carbon footprint,’ Ariola said.
‘As the Philippines’ leading geothermal energy firm, we are leading the country’s net zero transition since we are able to provide the largest amount of renewable energy,’ she added.
The geothermal power plants with their installed capacities for energization this year are the 29-MW Palayan Bayan binary power plant in Bicol (energized); 5.6-M
W power plant in Bago City, Negros Occidental; 20-MW Tanawon geothermal power plant in Bicol; and the 28-MW Mahanagdong binary power plant in Leyte.
Additionally, the FPH subsidiary company is eyeing the utilization of Battery Energy Storage Systems to augment existing geothermal power facilities this year in BacMan BESS in Bicol (20-MWh); Tongonan BESS in Leyte (10 MWh); and Negros BESS (10 MWh).
EDC operates renewable and clean energy through its geothermal, wind, solar, and hydropower plants across the country with a combined installed capacity of some 1,500 MW, excluding the seven new projects, Ariola said.
Meanwhile, FPH chairman and chief executive officer Federico Lopez, said that ‘aligned with the Philippine Energy Plan, we have set our target to grow our low carbon energy portfolio to 13,000 MW by 2030.’
Lopez was keynote speaker during the Net Zero Carbon Alliance Conference 2024 at The Fifth at Rockwell in Makati City on Sept. 19.
More than 400 government and private sector officials and repre
sentatives attended the conference with a shared goal of reaching a Net Zero emission by 2050.
‘At Energy Development Corporation, we have embarked on a multi-year well-drilling operation to expand output for our various geothermal power plants to ensure a more steady and reliable supply from one of the few renewable energy sources capable of delivering power of a 24/7 basis,’ he said.
It has lined up expansion and growth projects in hydro, solar and wind in the next few years, he added.
Ariola said to achieve the 2030 goal, EDC has ongoing explorations in Mindanao and Luzon, expansion plans for existing and concession areas, while also searching for other potentials.
It is also eyeing Indonesia for an overseas concession area for its renewable energy, she added.
Source: Philippines News agency
