THE Philippine Geothermal Production Co., Inc. (PGPC), a wholly owned subsidiary of SM Investments Corp. (SMIC), said it has started the exploration and development of new geothermal energy sources in various parts of Luzon.
The concession sites are located within the provinces of Kalinga, Benguet, Cagayan, Quezon, Camarines Norte, and Camarines Sur, the company said in a statement last week.
PGPC is aiming to establish fully operational geothermal fields capable of generating between 250 and 400 megawatts (MW) of additional renewable baseload capacity.
“With these projects slated for completion within the next five to seven years, they will be sources of additional renewable base-load power that will help reduce the risk of power supply shortages in the Luzon power grid,” said PGPC President Napoleon L. Saporsantos, Jr.
“They will also play a pivotal role in the Department of Energy’s target of having renewable energy sources account for at least 50% of the country’s total power capacity by 2040,” he added.
Mr. Saporsantos said that they are expecting the projects, from the exploration and development phase up to commercial operation, to create more than 2,000 jobs, “with priority given to hiring qualified local residents in our host communities.”
In 2023, the SMIC said that PGPC was expanding its renewable energy capacity to 600 MW through new exploration projects.
PGPC currently operates the Tiwi field in Albay and the Makiling-Banahaw (Mak-Ban) steam field spanning Laguna and Batangas. These facilities have been pivotal in supplying renewable geothermal energy to client power plants since 1979.
Tiwi is the first commercial scale geothermal steam field development in Southeast Asia, followed by Mak-Ban.
“SM’s investment in PGPC underscores the group’s dedication to help create a more sustainable future,” SMIC President and Chief Executive Officer and PGPC Chairman Frederic C. DyBuncio said. — Sheldeen Joy Talavera
