AMALA made a presentation at the 4th Annual Philippine International Geothermal Conference (PIGC4) sharing progress with its support to the Government of Philippines (GoP) and the Asian Development Bank (ADB) to develop a de-risking framework for geothermal development in the country. This premier multi-day industry event was organized by the National Geothermal Association of the Philippines (NGAP) and was attended by over 300 participants from around the world.
AMALA’s presentation included the results from an interactive workshop that was held prior, where developers identified and ranked the risks they face in investing in the sector. It helped explain why geothermal expansion in the country has practically stalled during the past two decades despite the promulgation of the Renewable Energy Act. The major areas of risk for developers included geothermal resource risks and limited options for mitigating them, environmental and social approvals and securing permits to proceed with development, physical and commercial power offtake, and financing challenges. Given the wide range of complex issues faced by the sector, AMALA encouraged the Philippines to take a comprehensive approach to de-risking the industry rather than a piecemeal one, as informed by international experience.
AMALA also shared the preliminary contours of a potential de-risking facility that the Department of Energy hopes to establish to support the industry. Going forward, AMALA plans to identify a comprehensive set of solutions, informed by international experience and the circumstances in the Philippines, that could help address the barriers to investments faced by developers.
Following his presentation, the Managing Director of AMALA, Mr. Migara Jayawardena, answered questions from the audience as to the way forward in the Philippines and other international experiences in successful geothermal expansion.
presentation made by Mr. Migara Jayawardena, Managing Director of AMALA Clean Energy Advisors, click here.
