TARGETING to overtake the US in terms of geothermal-generating capacity, the Department of Energy (DOE) awarded Thursday three geothermal service contracts to Guidance Management Corp. (GMC), Biliran Geothermal Inc. (BGI) and Basic Energy Corp. (BEC) to explore and develop the geothermal contract areas in Amacan, Biliran and Mabini, respectively.

The  DOE said the areas were offered during the department’s Philippine Energy Contracting Round (PECR). “We are running behind the United States in terms of geothermal-generating capacity. And if ever we would have to overtake them, we have the rich reserve for it. And with this signing of these service contracts, we are headed toward that direction,” said Energy Secretary Angelo Reyes.

The energy chief noted that the country has the huge potential for geothermal energy, with us being the Pacific Ring of Fire. “We’re below the US by 70 megawatts in terms of geothermal capacity,” Joaquin Rodriguez, GMC chairman, said. The GMC official said along with BEC and BGI will be the three horsemen that will bring the Philippines to the top in terms of geothermal production.

Reyes said the signing will substantially boost renewable energy’s contribution to the country’s energy mix, and that with “rising international oil prices, the government is aggressively moving toward a sustainable system with renewable energy playing an increasingly prominent, viable and competitive fuel option.”

The DOE, in its mission to achieve energy independence, is encouraging the private sector to invest in geothermal-exploration activities through the PECR to harness the country’s vast potential in geothermal energy. 

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DOE signs 3 geothermal service contracts

TARGETING to overtake the US in terms of geothermal-generating capacity, the Department of Energy (DOE) awarded Thursday three geothermal service contracts to Guidance Management Corp. (GMC), Biliran Geothermal Inc. (BGI) and Basic Energy Corp. (BEC) to explore and develop the geothermal contract areas in Amacan, Biliran and Mabini, respectively.