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Manila Bulletin devider Business devider Trade & Industry devider DOE looks into geothermal bill to boost investor confidence

DOE looks into geothermal bill to boost investor confidence

Published Oct 29, 2025 01:11 pm

SINGAPORE — The Department of Energy (DOE) is exploring ways to increase investments in geothermal projects in the Philippines beyond its current efforts to reduce the financial risks associated with the energy source.

In a sit-down interview, Energy Secretary Sharon Garin explained that the government is working on legislation that would incentivize developers, investors, and other stakeholders to boost developments in baseload renewable energy (RE).

“We’re drafting now a proposal for a bill on geothermal specifically... We want to encourage the industry, then maybe give them more incentives,” she told reporters on the sidelines of Asia Clean Energy Summit 2025.

While she has yet to disclose further details on who will craft the geothermal bill and when it will be proposed, Garin said the DOE is also set to conduct a gradiometric survey, which would help map out subsurface features and structures to identify geothermal potential.

“It will take a while, but at least soon, when there’s more interest, at least we have the data for that,” she added.

Garin highlighted that this specific type of RE is “one of our best assets,” noting that the Philippines currently holds about 1,900 megawatts (MW) of geothermal capacity.

Earlier, Lopez-led First Gen Corp. (FGen) emphasized the need for some of the country’s existing geothermal assets to undergo retrofitting through new technologies such as low-enthalpy systems and closed-loop cycle systems, which are likely to entail higher investment costs.

Currently, the DOE and the Manila-based multilateral lender Asian Development Bank (ADB) are working to de-risk geothermal investments through a facility designed to reactivate geothermal greenfield projects and support their pre-development stage. Because costs and investments are typically high, this budget support would be shared with private developers through loans or grants.

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