$170 Million to Unlock the Heat Beneath: How the Philippines Is De-Risking Geothermal Exploration By: Robert Buluma Geothermal energy has always been one of the Philippines’ greatest untapped strategic advantages an indigenous, low-carbon baseload resource sitting quietly beneath the archipelago’s volcanic spine. Yet for decades, the country’s geothermal expansion has moved cautiously, constrained not by lack of resource potential, but by risk, particularly at the exploration and drilling stage. That may now be changing. In a landmark move, the Department of Energy (DOE) and the Land Bank of the Philippines (LandBank) have unveiled a $170 million Philippine Geothermal Resource De-Risking Facility (PGRDF),a financial mechanism designed to absorb the most uncertain and capital-intensive phase of geothermal development: early-stage drilling. Backed by a sovereign loan from the Asian Development Bank (ADB) , the facility signals a bold shift in how governments can catalyze geothermal gro...
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