Rollout of $250-M Geothermal Derisking Fund Starts Next Year

Geothermal developers may begin to tap into the multimillion-dollar loan from the government as early as July next year, according to the Department of Energy.

- By Brix Lelis

Energy Undersecretary Rowena Cristina Guevara said the government is set to launch the country's geothermal resource derisking facility in the second half of 2026, unlocking up to $250 million in funding for developers.

"The (facility) is a game-changing initiative designed to address one of the biggest barriers to geothermal development: the high cost and risk of early-stage exploration," Guevara said yesterday at a conference hosted by the National Geothermal Association of the Philippines (NGAP).

With this funding, the government will cost-share exploration support to developers, potentially covering up to 50 percent of drilling costs through convertible loans.