Philippine Geothermal Production Co. Inc., a renewable energy producer owned by SM Investments Corp., will develop five geothermal areas that could add 250 megawatts to 400 MW of geothermal capacity.
SMIC said in an earnings presentation the geothermal plants, which produce energy fueled by the heat from the Earth’s core, would augment baseload supply in the country.
“There is room for geothermal to grow with the need for more RE in the future,” SMIC said.
PGPC’s five new geothermal areas are Kalinga (26,139 hectares) in Pasil, Lubuagan and Tinglayan, Kalinga; Daklan (3,969 ha.) in Bokod, Benguet; Baua-Sikaw (36,450 ha.) in Gonzaga and Sta. Ana, Cagayan; Cagua-Baua (33,904 ha.) in Gonzaga and Lal-lo, Cagayan; Mt. Labo (20,169 ha.) in Del Gallego, Camarines Sur, San Vicente and San Lorenzo Ruiz, Camarines Norte and Tagkawayan, Quezon; and Mt. Malinao (17,658 ha.) in Malinao, Tiwi, Tabaco City, Polangui and Malilipot, Albay and Buhi, Camarines Sur.
Geothermal energy comprises about 10 percent of the total energy generated in the Philippines and about 45 percent of the entire renewable energy mix.
Under the National Renewable Energy Program 2020 to 2040, the government committed to expanding the country’s renewable energy generation to 50 percent by 2040 from 35 percent in 2030.
An additional capacity of about 700 MW is targeted for geothermal projects.
SMIC said PGPC’s ongoing operations, growth targets and efforts would support NREP and other Department of Energy initiatives.
PGPC operates the Tiwi and Mak-Ban steam fields, supplying about 345 MW of steam to Aboitiz Power Corp. geothermal power plants.
The company produced 145 billion kilowatt-hours of cumulative gross generation, equivalent to about 57 billion kilograms of carbon dioxide emissions avoidance as of September.
SMIC said PGPC would continue optimizing the generating steam from Tiwi and Mak-Ban.
PGPC would build on the success of its drilling program. About 55 MW of new steam capacity came from eight of 10 completed production wells in Tiwi and Mak-ban.