The geothermal energy industry in the Philippines is quite a huge one. In fact it is the largest producer of geothermal power in all of Asia-Pacific.
Research and Markets (http://www.researchandmarkets.com/research/5gvdzd/analyzing_geotherm) has announced the addition of the “Analyzing Geothermal Power in Philippines 2012” report to their offering.
The country ranks second in the world in terms of geothermal energy production. Geothermal energy accounts for a major share in the electricity generating technology for Philippines. In the coming times ahead, the generation of geothermal energy is set to increase to over 12,000 GWh in 2022.
The government identifies potential sites of geothermal energy resources where investors may undertake pre-development or exploration activities and assets belong to private entities which have identified frontier areas by providing technical assistance in further determining if these areas warrant the establishment of a power plant.
The Philippines is situated in the western flank of the Circum-Pacific Ring of Fire where numerous active and dormant volcanoes can be found.
Under these volcanic centers, lie vast geothermal resources. It is this same Ring of Fire which has made Japan, Indonesia, New Zealand, and the United States major players in the geothermal industry.
Indonesia, however, is touted to be the major player in the future with its untapped potential of approximately 20,000 MW. According to the study conducted by the Department of Energy, Philippines has geothermal potential of 4500 MW. With numerous projects in the development phase and new tenders yet to be won, there are significant opportunities for geothermal stakeholders to capitalize on these markets.