Philippines gpc energy

What is PGPC doing in Luzon?

PGPC plans to invest about P3 billion annually for new projects in Kalinga, Daklan, and Cagayan in Northern Luzon, and in Mount Labo and Malinao in Southern Luzon. Through these new exploration projects, PGPC is targeting to increase its steam production by 300 megawatts (MW) of baseload renewable energy.

How will PGPC increase its geothermal capacity?

Through these new exploration projects, PGPC is targeting to increase its steam production by 300 megawatts (MW) of baseload renewable energy. This will hike the company’s geothermal capacity to an estimated total of 600 MW. The SM Group, through SMIC, acquired PGPC for P26.6 billion last year.

How does geothermal power work in the Philippines?

The steam is delivered to third party power plants to generate electricity which then goes to power transmission lines for distribution to homes and offices. Philippine Geothermal Production Co. Inc., a wholly owned unit of SM Investments Corp., has lined up new exploration projects as part of efforts to double its geothermal capacity.

How reliable is PGPC?

This is proven by PGPC’s half a century of reliable and consistent production of steam converted into renewable baseload electricity for its communities,” he said. PGPC operates the Tiwi geothermal steam field in the province of Albay and the Mak-Ban geothermal steam field in the provinces of Laguna and Batangas.

Why was PGPC acquired?

“Our acquisition into PGPC reflects our commitment to sustainability, our strong support to promote clean energy and is aligned with our goals of environmental stewardship as a responsible company. This acquisition will further enhance our sustainability portfolio,” said Frederic C. DyBuncio, SM President and Chief Executive Officer.

Why did SMIC buy PGPC?

The SM Group, through SMIC, acquired PGPC for P26.6 billion last year. SMIC is boosting its investments in renewable energy in support of the country’s growing advocacy for green energy and sustainable development.