ARLINGTON, VA – The U.S. Trade and Development Agency awarded a grant to Tayabas Geothermal Power Inc. (TGPI) supporting the development of a 60-100MW geothermal power project in southeast Luzon, Philippines. The project will help meet the Philippines’ growing energy demand and diversify the country’s energy mix, while creating market access for U.S. industry. TGPI is a private Philippine company established to develop the geothermal project and is wholly owned by the Manila-based Red Core Investment Corp.
TGPI has selected the California-based firm, Layman Energy Associates, Inc. (LEA) as the prime contractor for this study and drilling operations. LEA will manage a consortium of specialized geothermal service companies to support completion of a temperature gradient drilling program to update the resource assessment. This exploration will provide TGPI with the necessary information to justify future drilling and the development of a geothermal power plant in the area. The feasibility study and resource verification will accelerate the development of the Tayabas geothermal project and create opportunities for U.S. firms in this project and the Philippines’ geothermal sector.
“USTDA is pleased to partner with TGPI and LEA on this important project that will support the Philippines’ energy goals while creating new business opportunities for U.S. companies,” said Henry Steingass, USTDA Regional Director for South and Southeast Asia.
"LEA is honored to be chosen by TGPI to undertake the drilling program at the Tayabas geothermal project and greatly appreciates the critical financial support provided by USTDA," said Erik Layman, President of LEA. “We hope this program will form the basis for long-term cooperation between TGPI and LEA and our subcontractors on development of this significant clean energy resource.”
“Through the grant funding provided by USTDA and our relationship with American companies like Layman Energy Associates, Inc., we are confident of delivering renewable base-load energy to the grid within the next 3 years,” said Albert Altura, President of Red Core Geothermal (owner of Tayabas Geothermal Power, Inc.) “Our heartfelt thanks to USTDA for the support at this early stage of development and we look forward to working with LEA during this crucial exploration stage.
Work is expected to begin in December 2017 with drilling operations commencing in the second quarter of 2018.
# # #