SMIC’s PGPC to develop 5 new geothermal power projects

Philippine Geothermal Production Company Inc. (PGPC), a wholly owned subsidiary of conglomerate SM Investments Corporation (SMIC), is boosting its renewable energy portfolio through building five new projects in north and south Luzon.

In a statement, SMIC said PGPC is increasing its steam production capacity by another 300 megawatts (MW) of baseload renewable energy through its new exploration projects.

The new projects are in Kalinga, Daklan, and Cagayan in northern Luzon; and in Mount Labo and Malinao in southern Luzon.

The geothermal power company is investing P3 billion a year for the five projects.

SMIC said the new projects will increase its geothermal capacity to an estimated total of 600 MW.

Currently, PGPC operates the Tiwi geothermal steam field in the province of Albay and the Mak-Ban geothermal steam field in the provinces of Laguna and Batangas.

The company said the steam from Mak-Ban and Tiwi fields is delivered to third party power plants to generate electricity which then goes to power transmission lines for distribution to homes and offices.

“SM is committed towards harnessing clean energy by increasing its capacity to provide steam. The Philippines’ location within the ‘Ring of Fire’ provides a huge opportunity for a low-carbon source of power. This is proven by PGPC’s half a century of reliable and consistent production of steam converted into renewable baseload electricity for its communities,” said Frederic DyBuncio, president and CEO of SMIC.

SMIC said it remains committed to sustainability through investments in renewable energy that serve more communities nationwide. —Ted Cordero/KBK, GMA Integrated News