Daily TribuneThrough the Philippine Geothermal Resource De-Risking Facility, which will be backed by an Asian Development Bank sovereign loan fund, the government will help de-risk the exploration stage so that viable prospects can move faster from resource confirmation to project development.
After years of challenges that have slowed local geothermal development, the Department of Energy (DoE) and Land Bank of the Philippines (LandBank) have launched a $170-million Philippine Geothermal Resource De-Risking Facility (PGRDF) to help developers move projects forward by sharing exploration risks and costs.
Backed by the Asian Development Bank through a sovereign loan, the PGRDF will address one of geothermal energy’s biggest barriers: high upfront costs and uncertainty during early exploration and drilling.
Significant investment requirement
“Geothermal development requires significant investment long before a single kilowatt is delivered to consumers. Through the PGRDF, the government is helping de-risk the exploration stage so that viable prospects can move faster from resource confirmation to project development,” Energy Secretary Sharon S. Garin said Tuesday.
“This partnership with LandBank strengthens our ability to expand clean and dependable power supply, support energy security, and advance a just and sustainable energy transition that ultimately benefits Filipino communities.”
MoA inked 16 December 2025
The memorandum of agreement (MoA) was signed on 16 December during the Sustainable Energy Awards by Garin and LandBank president and CEO Ma. Lynette V. Ortiz, with Undersecretary Guevara and LandBank senior vice president Charlotte I. Conde witnessing the ceremony.
Under the agreement, the DoE will set policy direction, technical standards, and eligibility criteria, while LandBank will manage funding, oversee milestone-based disbursements, and handle program reporting.
According to Energy Undersecretary Rowena Cristina L. Guevara, the facility will help transform the sector.
