"We will be meeting with four to five Japanese firms that have indicated interest. It will be sometime towards the end of May, which will give them enough time to study the country’s geothermal areas," Energy Undersecretary Eduardo Mañalac said in a press briefing.
Mañalac identified only two firms – Sumitomo Corp. and Kanematsu – as many those eyeing the geothermal projects.
"These are the usual suspects. The strategy is that we are targeting those companies already familiar with the country. Japanese are among those that already have experience in the geothermal field," Mañalac said.
But the energy official said they also intend to tap other interested companies from United States and New Zealand, on top of the Japan-based firms.
Based on DOE estimates, investors are expected to spend $1 million for every mega- watt of geothermal energy and another $1 million for each megawatt of power plant capacity.
The DOE said the investments that would be raised from the bidding exercise could amount to about $940 million.
Manalac said the DOE will likewise embark on a roadshow to market the country’s new and renewable energy. "There will be a big conference in Germany very soon. We plan to hold a roadshow in Europe," he added.
There are about 10 promising geothermal fields, which could generate as much as 300-470 MW in additional capacity. These are Manito-Bayabon and Rangas-Tanawon in Sorsogon; Biliran in Eastern Visayas; Amacan in North Davao; Dauin, Negros Occidental; Natib, Bataan; Mabini, Batangas; Montelago, Mindoro Oriental and Mt. Kabalian in Leyte.
At present, the DOE has 35 identified geothermal resource areas in the country with an estimated potential generating capacity of 4,137 MW. Based on the Philippine Energy Plan 2004-2013, the Philippines plans to install as much as 1,200 MW of additional capacity for geothermal power in the next 10 years. The Philippines is considered the world’s second largest geothermal producer with an installed generating capacity of 1,932 MW, accounting for 13 percent of the country’s total power supply.
Included in the existing and active geothermal power producers in the country are the state-owned PNOC-Energy Development Corp (PNOC-EDC), Philippine Geothermal Inc., California Energy, and Ormat Inc.