The Philippine Geothermal Production Company, Inc. (PGPC) said over the weekend it will start the exploration and development of new geothermal energy sources in different areas in Luzon with potential capacity of up to 400 megawatts in the next five to seven years.
The company, led by SM Investments Corp., said the five new project concession sites are located in geothermal-rich areas in the provinces of Kalinga, Benguet, Cagayan, Quezon, Camarines Norte and Camarines Sur.
SMIC president and chief executive, also PGPC chairman Frederic DyBuncio, said “SM’s investment in PGPC underscores the group’s dedication to help create a more sustainable future.”
PGPC aims to establish fully operational geothermal fields capable of generating between 250 MW to 400 MW of additional renewable baseload power which can be readily dispatched to power plants and other prospective off-takers.
PGPC said these projects will help bolster power security for Luzon and advance the country’s renewable energy objectives.
“With these projects slated for completion within the next 5 to 7 years, they will be sources of additional renewable baseload power that will help reduce the risk of power supply shortages in the Luzon power grid,” said PGPC president Napoleon Saporsantos Jr.
“They will also play a pivotal role in the Department of Energy’s target of having renewable energy sources account for at least 50 percent of the country’s total power capacity by 2040,” he said. Alena Mae S. Flores
Saporsantos said the project would spur economic development in each area and benefit its residents.
“These projects from the exploration and development phase all the way up to commercial operation are expected to create over 2,000 jobs, with priority given to hiring qualified local residents in our host communities,” he said.
PGPC pioneered Southeast Asia’s first commercial geothermal power project in 1971. It was established as Philippine Geothermal Inc.
The company operates the Tiwi steam field in Albay and the Mak-Ban steam field spanning Laguna and Batangas. These facilities have been pivotal in supplying renewable geothermal energy to client power plants since 1979.
Throughout its operations, PGPC has maintained a steadfast commitment to community engagement, focusing on educational advancement, environmental stewardship and local livelihood enhancement initiatives.
PGPC has operated as a wholly-owned subsidiary of SMIC since 2017.
