AMALA Designing De-risking Framework for Renewable Energy in the Philippines

AMALA is selected by the Asian Development Bank (ADB) to help the Department of Energy (DOE) in the Philippines develop a de-risking framework to catalyze geothermal renewable energy in the country. While the Philippines has the 3rd largest installed capacity of geothermal in the world, expansion has been stagnant for over two decades. The
Government of the Philippines is keen to catalyze a ‘2nd wave’ of geothermal development, to contribute to its clean energy transition. AMALA has partnered with GeothermEx and Parhelion Underwriters to assist the DOE:

a) assess the existing geothermal resource potential and associated risks,

b) identify key barriers that have permeated as risks to slow down expansion in the recent past,

c) design the contours of a geothermal de-risking facility that could help address some of the key investment hurdles,

d) identify good-practice approaches for cost and risk reduction in developing the sector.

AMALA will also conduct two participatory workshops to engage stakeholders to raise awareness as well as to seek input to the design of the de-risking framework. Some of the initial findings from the work will be presented at
Philippine International Geothermal Conference in Manila on September 27and 28, 2023.

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