SMIC unit starts geothermal exploration in Albay – BusinessWorld Online
THE PHILIPPINE Geothermal Production Co., Inc. (PGPC), a subsidiary of SM Investments Corp. (SMIC), has started exploring new renewable geothermal energy sources in Albay, the company announced on Monday.
The company has commenced operations of its drilling rig as it develops a geothermal steam field at Mt. Malinao, which could generate up to 49 megawatts (MW) of electricity, the company said in a media release.
Mt. Malinao is among the new concession areas being developed by PGPC in various locations across Luzon.
Overall, these new concession sites have the potential to provide up to 300 MW of renewable energy to the Luzon grid.
Last year, PGPC announced it had started the exploration and development of new geothermal energy sources in various parts of Luzon, including the provinces of Kalinga, Benguet, Cagayan, Quezon, Camarines Norte, and Camarines Sur.
In 2023, SMIC said that PGPC was expanding its renewable energy capacity to 600 MW through new exploration projects.
PGPC, which pioneered Southeast Asia’s first commercial geothermal power project in 1971, currently operates the Tiwi field in Albay and the Makiling-Banahaw (Mak-Ban) steam field spanning Laguna and Batangas.
These facilities have been supplying renewable geothermal energy to client power plants since 1979.
The Philippines is the third-largest geothermal producer, after Indonesia and the US.
As of July 2024, the Department of Energy is monitoring 35 geothermal service contracts, 20 of which are in the pre-development stage, and 15 in the development or commercial stage. — Sheldeen Joy Talavera