USTDA Connects U.S. Industry to Geothermal Opportunities in The Philippines
October 11, 2017
(USTDA)
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.
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