Article

The Philippine government plans to introduce a $250 million geothermal de-risking facility by late 2026, aimed at reducing exploration risks for developers. This initiative, announced at the 6th Philippine International Geothermal Conference, will cover up to 50% of drilling costs through convertible loans.

It seeks to stimulate investment in geothermal energy, enhance energy security, and create jobs. The program will address existing challenges such as high upfront costs and complex permitting processes, ultimately advancing the country’s clean energy transition and increasing geothermal capacity.