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EDC awarded USTDA grant for geothermal power project

Published by , Deputy Editor
Energy Global,


During a recent travel to Manila, US Vice President, Kamala Harris, launched a U.S. Trade and Development Agency (USTDA) grant to the Philippines’ Energy Development Corporation (EDC) for a feasibility study to support the development of a geothermal power plant in Amacan, in the Mindanao region. The power plant will support the Philippines’ clean energy transition and reduce greenhouse gas emissions.

“The Philippines is already among the world’s renewable energy leaders. Its potential capacity for geothermal, wind, solar, and hydroelectric power is significant. By partnering with EDC, USTDA is enthusiastic about bringing additional renewable energy resources online so that people across the Philippines have a clean and reliable source of power,” said Enoh T. Ebong, USTDA’s Director. “USTDA’s assistance will also catalyse private sector investment in geothermal technologies that U.S. companies are well positioned to supply.”

USTDA’s study will help EDC confirm geothermal resource availability and conduct initial technology and financial assessments for the implementation of a geothermal power plant with around 50 MW of energy capacity. The power plant would reduce dependence on fossil fuel-based power generation and reduce greenhouse gas emissions.

“Geothermal energy has been providing the Philippines with baseload renewable energy and helping our country avoid at least a million tons of carbon emissions each year compared to coal. We need more of 24/7 geothermal energy in order to decarbonise our energy sector and help achieve a net zero country,” added Richard B. Tantoco, President and Chief Operating Officer of EDC.

USTDA’s assistance advances one of the key pillars of the Biden-Harris Administration’s Partnership for Global Infrastructure and Investment, to tackle the climate crisis and bolster global energy security. This project also advances the goals of USTDA’s Global Partnership for Climate-Smart Infrastructure, which connects US industry to major clean energy and transportation infrastructure projects in emerging markets.

 

 

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Read the article online at: https://www.energyglobal.com/other-renewables/25112022/edc-awarded-ustda-grant-for-geothermal-power-project/

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