Geothermal Isn't Expensive: The Reservoir Always Has the Final Say Somewhere beneath a volcanic ridge, a drill bit is turning through rock that has not moved in two million years. It costs money every second it turns. And nobody on the surface — not the engineer, not the financier, not the minister who announced the megawatts — knows yet whether that well will produce steam or silence. That single moment explains almost everything people get wrong about geothermal energy. Geothermal is routinely described as expensive, slow, capital-hungry and haunted by drilling risk. Investors are reminded that tens of millions can disappear underground before a single megawatt reaches a grid. All of that is true. But it is not the whole truth. The uncomfortable question the industry keeps avoiding is this: is geothermal expensive, or is the way we develop geothermal making it expensive? Those are two completely different problems. One is geology. The other is us. Why Geothermal Refuses to Be...
"Revolutionizing Geothermal Power: USTDA Unleashes Cutting-edge Technology in the Philippines
In a groundbreaking move, the U.S. Trade and Development Agency (USTDA) has joined forces with the Energy Development Corporation (EDC) in the Philippines to spearhead a transformative geothermal project. With the strategic signing of a memorandum of understanding, USTDA is set to propel EDC's geothermal fields into a new era, embracing innovative technology from California-based powerhouse, GreenFire Energy (GFE).
Imagine unlocking the potential to amplify geothermal power production by nearly 150 megawatts from previously dormant or underperforming wells. USTDA's grant signifies a pivotal moment, as it paves the way for a feasibility study and pilot project that could reshape the landscape of clean energy in the Philippines.
Enoh T. Ebong, USTDA’s Director, emphasizes the urgency of combating climate change through collaborative efforts. He states, "Cutting-edge innovations are being deployed to reduce emissions, and USTDA’s partnership with EDC is a prime example of how collaboration can support the Philippines’ clean energy goals."
The GreenLoop technology, pioneered by GFE, is set to revolutionize geothermal systems. By enhancing the performance of existing sites that have naturally declined, this advanced technology offers a timelier and more cost-effective solution compared to traditional methods of building new plants from the ground up.
Miko de Vera, Head of New Business and Technologies at Energy Development Corporation, expresses excitement about the project, stating, "We applaud USTDA’s support for the country’s continuing transition to renewable energy. The grant is a recognition of the need to adopt, pilot and deploy new and emerging technologies."
U.S. Ambassador to the Philippines, MaryKay Carlson, underscores the broader impact of such collaborations, stating, "This project is an example of how the U.S. government is partnering with the Filipino and American private sectors to pioneer cutting edge technologies that can support energy security and the clean energy transition."
As Joseph Scherer, CEO of GreenFire Energy Inc., acknowledges the honor of being selected for this project, it becomes evident that this initiative not only advances clean energy goals but also stands as a testament to international partnerships shaping a sustainable future."
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