PH needs $12.6B to reclaim No. 2 geothermal spot—energy chief

PH needs $12.6B to reclaim No. 2 geothermal spot—energy chief

MANILA, Philippines —The Philippines needs to attract about $12.6 billion in investments to build 2,100 MW of capacity as it seeks to reclaim its spot as the world’s No. 2 geothermal producer. Speaking to reporters on Thursday, Department of Energy (DOE) Secretary Sharon Garin said it takes $6 million to produce one megawatt of geothermal

Philippines Bids To Regain 2nd Spot In World Geothermal Energy Production

The Philippines aims to regain the second spot worldwide in terms of geothermal energy production as the government shifts to renewable energy (RE), with the help of a PHP10.7 billion de-risking facility. In her speech during the 7th Philippine International Geothermal Conference in Lipa City, Batangas on Thursday, Energy Secretary Garin said the country has a potential 2,100 megawatts (MW) geothermal energy to be explored and developed. To date…