Call for Comments on the Proposed Department Circular entitled, "Establishing the Philippine Geothermal Resource Derisking Facility, Prescribing the General Guidelines for its Implementation, and Adopting the User Manual Therefor"

PUBLIC CONSULTATION ON THE DRAFT DEPARTMENT CIRCULAR

“Establishing the Philippine Geothermal Resource Derisking Facility, Prescribing the General Guidelines for its Implementation, and Adopting the User Manual Therefor”

The Department of Energy (DOE) hereby announces the posting of the draft Department Circular (DC) and User Manual for the Philippine Geothermal Resource Derisking Facility (PGRDF).

The draft DC establishes the PGRDF and sets forth the guidelines and procedures for its implementation and administration. The PGRDF aims to reduce the financial risks associated with early-stage geothermal exploration by offering low-cost convertible subloans with a risk-sharing mechanism to provide financial support to private developers, thereby promoting private sector investments in geothermal development and supporting the country's renewable energy and energy security objectives.

In this regard, the DOE shall conduct a Virtual Public Consultation with the geothermal energy sector and other relevant stakeholders with the following details:

The draft PGRDF DC and User Manual may be downloaded from the DOE website, and interested stakeholders may submit written comments and recommendations to the PGRDF Secretariat on or before the indicated deadline.