LOPEZ-LED Energy Development Corp. is optimistic about its Mindanao geothermal operations, with plans to add 70 to 120 megawatts of capacity.
“We have an ongoing [project]. Hopefully by next year, we would be able to say we can develop a facility in Amacan, Mindanao,” said EDC president and chief operating officer Jerome Cainglet.
“It’s about 70 MW initially, but hopefully we can, if the resource is good, hopefully up to 120 MW.”
Cainglet said if the company can confirm the project is “commercially feasible” by next year, construction of the power plant would take another two to three years.
Geothermal development costs about $6 million per MW, meaning the company would need to invest between $420 million and $720 million for the project.
EDC currently has geothermal facilities in Mindanao, including the 54.24-MW Mindanao I and 54.24-MW Mindanao II in North Cotabato, and the 3.66-MW Mindanao III.
The renewable energy subsidiary of First Gen Corp. recently inaugurated its 22-megawatt, P7-billion Tanawon Geothermal Power Plant. This new facility is the second of EDC’s seven growth projects to come online. The first was the 29-MW Palayan Binary Geothermal Power Plant, which was inaugurated on July 5, 2024.
EDC plans to commission four additional growth projects this year: the 28-MW Mahanagdong Binary Geothermal Power Plant in Leyte, and three battery energy storage systems (BESS) totaling 40 megawatt-hours. The BESS projects include a 20-MW system in Bac-Man, 10-MW in Leyte and 10-MW in Negros Oriental. The company anticipates completing its 5.6-MW Bago Binary geothermal power plant in Negros Occidental by 2026.
With an installed capacity of nearly 1,400 MW, EDC accounts for about 17 percent of the Philippines’ total installed renewable energy capacity. Its geothermal portfolio, which exceeds 1,000 MW, comprises about 56 percent of the country’s total installed geothermal capacity, solidifying the Philippines’ position as the world’s third-largest geothermal producer.
