FIRST Gen Corp. targets to have 80 megawatts (MW) of geothermal energy projects completed by 2024, the company's president said.
This comes after the completion of the 29-MW Palayan Binary Power Plant, First Gen President and Chief Operating Officer Francis Giles B. Puno said on the sidelines of BusinessWorld's economic forum last week.
"That just started operating, so it is ideal when there's a need for supply. That's new capacity that's coming as well," Mr. Puno added.
First Gen subsidiary Energy Development Corp. (EDC) announced the construction of the binary power plant in Albay in 2021.
Last year, EDC said it would pour in P60 billion in the next three years to drill 40 additional wells in Leyte, Davao, Albay, and Sorsogon.
