Arlington, VA – Today, the U.S. Trade and Development Agency signed a grant agreement with the Philippines’ Energy Development Corporation (EDC) for a feasibility study and pilot project to increase geothermal power production in EDC’s geothermal fields using technology from California-based company GreenFire Energy (GFE). This project holds the potential to increase production at idle or underperforming wells by up to nearly 150 megawatts of power.
“Cutting-edge innovations are being deployed to reduce emissions in the face of climate change, and USTDA’s partnership with EDC is a prime example of how collaboration can support the Philippines’ clean energy goals,” said Enoh T. Ebong, USTDA’s Director. “The United States and the Philippines are two of the world’s largest geothermal power producers, and we both can benefit from U.S. innovations that increase the efficiency and outputs of our clean energy infrastructure in pursuit of a more sustainable future.”
USTDA’s grant will pilot GFE’s GreenLoop technology at one of EDC’s idle wells in Leyte and develop an implementation strategy to expand the pilot throughout EDC’s operational geothermal fields. GreenLoop is an advanced geothermal system that boosts the performance of existing geothermal sites that have naturally declined over time, many of which lay idle. The technology can provide a timelier and more cost-effective way of generating power than exploring, drilling, and developing new plants from the ground up.
“We applaud USTDA’s support for the country’s continuing transition to renewable energy. The grant is a recognition of the need to adopt, pilot and deploy new and emerging technologies that have the potential to accelerate the rollout of more renewable power, and of geothermal energy in particular,” said Miko de Vera, Head of New Business and Technologies at Energy Development Corporation. “We are excited about trialing GreenFire Energy’s GreenLoop technology and are already looking forward to deploying GreenLoop systems all across our fleet.”
“This project is an example of how the U.S. government is partnering with the Filipino and American private sectors to pioneer cutting edge technologies that can support energy security and the clean energy transition in the Philippines,” said U.S. Ambassador to the Philippines MaryKay Carlson. “Through initiatives such as the Partnership for Global Infrastructure and Investment and the Indo-Pacific Economic Framework, the U.S. government is taking concrete action in the Philippines, such as this USTDA grant, to develop, expand and deploy innovative clean energy technologies to support energy security and sustainability.”
“GreenFire Energy is honored to be selected by EDC under this USTDA grant. This project will demonstrate the effectiveness of GreenLoop to produce geothermal power and is the first step towards the scale-up to commercial deployments at EDC’s Leyte geothermal and other sites in the Philippines,” said Joseph Scherer, CEO of GreenFire Energy Inc.
In addition to advancing the Partnership for Global Infrastructure and Investment and the Indo-Pacific Economic Framework, USTDA’s support of this pilot and feasibility study will advance the Clean EDGE Asia initiative and USTDA’s Global Partnership for Climate-Smart Infrastructure.
The U.S. Trade and Development Agency helps companies create U.S. jobs through the export of U.S. goods and services for priority infrastructure projects in emerging economies. USTDA links U.S. businesses to export opportunities by funding project preparation and partnership building activities that develop sustainable infrastructure and foster economic growth in partner countries.
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