geothermal power
Monday, September 13, 2004
Oil-dependent RP taps more geothermal power
2004-09-10 20:48:28-->
By DOLLY AGLAY
MANILA, Sept. 10 (Reuters) — The Philippines vowed this week to become the world’s top producer of volcanic power to curb a rising oil import bill and ease its crushing debt, but analysts cast doubt on its ability to see the plan through.
Geothermal and hydro power already account for a third of national electricity output, and the potential for more renewable energy capacity is high. But a government energy investment wish-list launched on Thursday to lift the impoverished nation out of oil dependence carries a $25 billion price tag to set against a $61 billion national debt and last year’s $3.5 billion budget deficit. In his "energy independence agenda," Energy Secretary Vincent Perez acknowledged an urgent need to cap growth in last year’s $4 billion bill for crude oil and oil products to feed motor fuel and power generation demand. "A stable, self-sufficient and vibrant energy sector is crucial to job creation, economic growth and stability, and for the future well-being of the Philippines," he said.
The Department of Energy said the Philippines needs to install an additional 5,200 megawatts of power generating capacity by 2014 — about a third of existing supply — to meet rising demand.
To achieve this, it wants to see renewable-based generating capacity double by 2013 from the current 4,500 megawatts. Hydro power already accounts for 19 percent of current capacity, and geothermal 15.
The plan is to harness two lucky accidents of geography; the "Ring of Fire" volcanic area the Philippines straddles, and its typhoon-prone weather system, to become the world’s largest geothermal energy producer and the leading wind energy producer in Southeast Asia."Today, we are the world’s secondlargest geothermal producer, converting volcanic power into energy," Perez said, adding the Philippines could overtake the United States as the leading producer if it could develop 10 proposed new geothermal fields.
The 10 fields were opened to interested investors in March, and should provide an estimated 300 to 470 megawatts of power. Five Japanese firms and a US company have expressed keen interest, Perez said. Firms have until November to submit bids.
Wind is next on the list. Last month, a 2-megawatt hybrid wind-or-diesel power plant started up in Batanes island in the northern Philippines, becoming the first of its kind in the country.
posted by philpower @ 1:46 PM,
