EDC to Drill 19 New Geothermal Wells Ahead of 50th Anniversary
- June 25, 2025
Lopez-led Energy Development Corp. (EDC) is ramping up its geothermal operations this year, planning to drill 19 new wells in preparation for its 50th anniversary in 2026.
The company will also conduct re-entry operations on previously drilled geothermal fields and carry out multiple workovers as part of its expansion efforts. These initiatives are expected to add 141 megawatts (MW) of clean energy capacity to the national grid.
“This aggressive expansion will solidify our leadership in geothermal energy while responding to the growing demand for sustainable power solutions,” EDC said.
The company also reaffirmed its commitment to achieving its drilling and operational goals with “precision and efficiency.”
Currently, EDC is the largest geothermal energy provider in the Philippines, owning and operating 13 geothermal power plants. Together, these facilities have a total installed capacity of about 1,200 MW — roughly 60 percent of the country’s total geothermal capacity.
(Also read: Powering the Future: Geothermal Energy’s Global and Local Rise)
Road to 50
“In our road to 50, 2025 will be a pivotal year. It will be a time to reap the benefits of our long-term efforts and set the stage for what’s ahead,” the company said.
Last year, EDC invested approximately ₱24 billion in developing four geothermal projects nationwide. These include the 29-MW Palayan binary plant and the 20-MW Tanawon plant in Bicol, the 5.6-MW Bago binary plant in Negros Occidental, and the 28-MW Mahanagdong plant in Leyte.
EDC President and COO Jerome Cainglet noted that the Tanawon plant was connected to the grid in February, while the Mahanagdong plant is currently undergoing testing and commissioning. The Palayan plant was activated last year, and the Bago facility achieved mechanical completion in the fourth quarter of 2024.
“EDC remains steadfast in driving growth and delivering value as we ensure that every step we take brings us closer to a more resilient and regenerative future,” Cainglet said.
While EDC has not disclosed its investment plans for the drilling program this year, Energy Undersecretary Rowena Cristina Guevara estimated the cost of drilling one geothermal exploration well to be between $6 million and $8 million.
Due to these high costs, the government plans to launch a de-risking strategy, which will share exploration drilling expenses with qualified developers. The Marcos administration is currently seeking a loan from the Asian Development Bank to support this initiative.
Sources:
https://integratedreport.energy.com.ph/moving-forward-setting-foundations-for-a-regenerative-future/
https://mb.com.ph/2024/6/2/fphc-s-edc-to-start-operating-p29-b-power-facilities-in-2024
https://business.inquirer.net/529500/doe-pushes-for-2025-launch-of-geothermal-de-risking
