One of the exploration fields is in Amacan in the Mindanao region. This is the same site that was the subject of an RFP for feasibility studies that EDC published in 2022 with funding from the U.S. Trade and Development Agency (USTDA). The exclusive rights for geothermal power at the Amacan site was awarded to EDC following a tender process back in 2017.
Drilling in the two new exploration areas is planned by the end of next year.
Tantoco also said that the binary power plant in Palayan Bayan, which will have a capacity of 28.9 MW, is scheduled to start commercial operations between August to October this year. Moreover, the 20-MW Tanawon project and the 28-MW Mahanagdong geothermal brine optimization plant will both be coming online in a couple of years.
Tantoco also clarified that the company is not completely exiting its Peru geothermal project. This follows recent news on EDC withdrawing from the project because of “political and market factors.”
“We are looking for those assets, maybe a better parent or a partner. As a foreign company, maybe there will be a local conglomerate there can work with us. We have been looking,” he said.
