First Gen Urges Philippine Government Support to Boost Global Geothermal Leadership

First Gen Corp. has emphasized the need for stronger government support in the Philippines to advance geothermal energy, which remains the country's most reliable clean energy source but is often overlooked compared to solar and wind. Jay Joel Soriano, First Gen's VP, highlighted that geothermal energy operates continuously and requires a pricing model that reflects its unique characteristics, unlike the current fossil fuel-based approach. The government recently included geothermal in its green energy auction program, signaling renewed policy focus, and plans to launch a $250 million geothermal derisking facility to address exploration risks. Despite being the world's third-largest geothermal producer, the Philippines risks falling behind due to limited development and support, with emerging technologies offering potential for expansion. In the U.S., next-generation geothermal projects are gaining traction by adapting oil and gas drilling techniques to access deeper, hotter underground rock, expanding geothermal energy's geographic potential. Meanwhile, studies in Canada show enhanced geothermal systems could become a cost-effective and reliable clean energy source, further highlighting geothermal's growing global importance.