DOE and LandBank to Finalize Geothermal De-Risking Facility
The Department of Energy (DOE) expects to finalize a de-risking facility with the Land Bank of the Philippines by year-end, with support from the Asian Development Bank (ADB).
This facility aims to make geothermal exploration less risky and attract more private investment into the sector.
Energy Secretary Sharon Garin said the agreement is in its final stages and will serve as a key financial instrument to help developers shoulder the heavy upfront costs of drilling and exploration.
The agreement will help reduce the risks associated with geothermal exploration, making it more attractive to private investors.
Author's summary: DOE to finalize geothermal de-risking facility.More News
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