EDC asking for government incentives for geothermal development
EDC management has made an appeal to the Philippine government to provide incentives for the development of geothermal power
In a statement made by Energy Development Corporation (EDC) president Richard Tantoco, he urged the government to help promote the development of the Philippines’ untapped geothermal potential by granting incentives for said projects. Aside from reducing carbon emissions by shifting to geothermal power, this will also lessen the dependence on coal, as much as 90 percent of which is imported.
According to Tantoco, advancements in technology such as energy storage have made renewable energy more viable. In an “ideal grid”, geothermal could provide baseload power, while other renewable energy sources can be used as a complement.
Already the biggest geothermal power company in the Philippines, EDC remains active in exploring geothermal opportunities abroad. Thru First Gen Corp., EDC has been looking at geothermal concessions in Taiwan. They are also interested in exploring prospects in Indonesia, but remain tentative due to political concerns.
Source: Manila Standard