Philippine Geothermal Industry Updates 2011

Abstract

Major developments and activities that have taken place in the Philippine geothermal industry during the past few years are more on the corporate and policy fronts. These include he takeover by Chevron Geothermal Philippines Holdings, Inc. (CGPHI) of Unocal Philippines’ geothermal steamfield operations in 2005, full privatization of PNOC-EDC (now known as Energy Development Corp. or EDC) in late 2007, and the sale of National Power Corporation’s (NPC) geothermal power plants in Tiwi and Makiling-Banahaw to Aboitiz Power Renewables, Inc. (APRI) in 2008, and the Tongonan I and Palinpinon I/II power stations to EDC in September 2009 as well as the whole Bacman power plant facilities to EDC in 2010. Furthermore, the Renewable Energy Bill was signed into law in late 2008, and went into effect in July 2009, providing legal definitions and financial and non-financial incentives to further develop all renewable sources of power, including geothermal.

The short and long-term future for geothermal energy development looks promising. Most of the expansion programs are back in the pipeline, and new players have entered the geothermal development scene. With all these in the horizon, plus the incentives embedded in the RE Act, the Philippines is looking forward to an even more vibrant geothermal energy sector
in the years to come.