IN a speech before participants at the Singapore International Energy Week on Tuesday, First Gen vice president and head of planning and strategy Jay Joel L. Soriano discussed efforts and support needed to uncover the Philippines’ vast renewable energy potentials, including geothermal energy which he described as ‘the most reliable clean energy of all.’
Photograph by Maria Romero for DAILY TRIBUNE
SINGAPORE — Lopez family-led energy firm First Gen Corp. (FGEN) is calling for stronger government support and policy reforms to expand the country’s geothermal energy supply, the only renewable power source capable of delivering steady, round-the-clock electricity.
“Renewable energy, when managed well, doesn’t just decarbonize the grid — it safeguards lives, communities and hope,” FGEN vice president and head of planning and strategy Jay Joel L. Soriano said during his speech at the Singapore International Energy Week on Tuesday.
Most reliable
Soriano described geothermal “the most reliable clean energy of all,” emphasizing that it “does not depend on the weather. It runs 24 hours a day, seven days a week. It’s the steady heartbeat of a renewable grid.”
Despite its reliability, the energy source faces regulatory hurdles. Soriano said current frameworks should “support the expansion of the right energy mix, not just the scale-up of newer technologies.”
As such, he said the Energy Regulatory Commission should redevelop a pricing model for geothermal, which is currently similar to the one being used for fossil fuels.
Program delay slows investments
Delays in government programs have also slowed investment.
Soriano cited the Green Energy Auction Program, which was intended to attract private funding for clean energy.
“The Department of Energy only issued the formal Notice of Auction for its 4th round in March, with the auction proper scheduled in September 2025, and results released in October, almost two decades after our Renewable Energy Act first passed,” he said.
In a separate interview, Energy Secretary Sharon S. Garin said the government will look into FGEN’s recommendations but noted that several initiatives, including regulatory updates and incentive programs, are already underway.
“The problem why we’re slipping to two or three in the world because of the policies we have to adjust. We have already entered into an agreement with or wrapping up the agreement with Landbank, that’s an Asian Development Bank facility (for geothermal de-risking),” Garin said.
Housing is probably the biggest issue affecting people the world over.
Malacañang on Monday called for a more thorough investigation into the questioned flood control projects in Taguig…
The defense on Monday backed the move by senator-judges to exclude a prosecution witness who testified on the firearms…
