FIRST PHILIPPINE HOLDINGS IS A CORPORATION THAT IS CONSTANTLY IN ACTION. WE’RE ALWAYS TRYING TO FIND WAYS TO DELIVER FOR OUR STAKEHOLDERS AND THE FILIPINO PEOPLE.
Geothermal energy first entered the Philippines in 1977, and today accounts for already 27 percent of the country’s total energy generation.
“Geothermal is very abundant in the Philippines. You are second only to the United States in the amount of geothermal energy that is produced. It is a fantastic resource for the Philippines and can be used much more,” said former United States Vice-President Al Gore, chairman and founder of the Climate Reality Project, at the organization’s 31st Leadership Corps training in Manila this year.
Geothermal energy harnesses heat from the Earth’s core – a limitless resource – to generate electricity. Countries that fall along major tectonic plate boundaries and along the Ring of Fire, where hot magma is much closer to the Earth’s surface, are in the best position to tap into the heat and electricity-generating potential of geothermal activity deep in the ground.
Molten material beneath the Earth’s surface heats up the water reservoirs, which in turn produce steam. The steam is cleaned and brought up to the geothermal power plants using pipelines. The steam then turns the giant turbines, which run generators that produce electricity that is converted and transmitted to consumers.
Geothermal has been known to be a very affordable sustainable energy option – as well as the only one that is available 24/7, all year round.
The Philippines has done relatively well in harnessing its potential in this type of renewable energy, with the World Wide Fund for Nature (WFWF) even endorsing it as a model of sustainable geothermal development.
Energy Development Corporation (EDC), in particular, presented its “geothermal story” to renewable energy stakeholders in Indonesia a few years back. WWF specifically chose EDC’s sustainability practices in the Philippines to help make a case for geothermal energy as the best renewable energy option for Indonesia, a country also rich in geothermal resources.
EDC is currently the world’s largest vertically integrated geothermal company, owning and operating twelve Philippine geothermal power plants and delivering 1,457.8 MW of clean and renewable energy to the country. The company has also diversified into wind, solar, and hydro power generation.