By Kenneth Marcos 
Inside a grand ballroom in Makati, leaders from government and the energy sector gathered with a shared goal: to power the country’s future with clean and reliable energy. Applause followed as LANDBANK and the Department of Energy (DOE) sealed a key partnership aimed at unlocking the Philippines’ rich geothermal resources.
The agreement was formalized on December 16, 2025, during the Sustainable Energy Awards held at the Makati Shangri-La. LANDBANK and DOE signed a Memorandum of Agreement for the Philippine Geothermal Resource Derisking Facility, or PGRDF, a program designed to reduce the financial risks of exploring and developing geothermal energy projects.
LANDBANK President and Chief Executive Officer Lynette V. Ortiz led the signing, alongside DOE Secretary Sharon S. Garin. The ceremony was witnessed by senior officials from both institutions and key stakeholders from the renewable energy sector.
The PGRDF aims to encourage more investments in geothermal energy by supporting early-stage exploration, which is often costly and risky. By reducing these risks, the government hopes to attract private developers to tap geothermal resources, especially in areas with high potential but limited funding.
Geothermal energy is one of the Philippines’ strongest renewable resources. The country already ranks among the top geothermal energy producers in the world. However, many promising sites remain undeveloped due to high upfront costs and uncertainty during exploration.
Through this partnership, LANDBANK will play a vital role in managing and supporting financing mechanisms under the PGRDF. As a government financial institution, the bank has long been involved in funding agriculture, infrastructure, and development projects, particularly in rural areas.
DOE officials said the program aligns with the country’s push for energy security and lower power costs. Clean energy sources like geothermal help reduce dependence on imported fuel and protect consumers from price shocks caused by global oil market changes.
The signing took place during the Sustainable Energy Awards 2025, an annual event that recognizes institutions and individuals who support the transition to clean energy. During the ceremony, LANDBANK received a Special Recognition for its outstanding contribution to sustainable energy development.
The award highlighted LANDBANK’s continued support for renewable energy projects, including solar, hydro, and now geothermal power. Bank officials said these efforts support national goals on climate action while creating jobs and boosting local economies.
Also present at the event were DOE Undersecretaries Rowena Cristina L. Guevara and Mylene C. Capongcol, along with senior LANDBANK executives and renewable energy advocates. Their presence underscored the importance of cooperation between government agencies, banks, and the private sector.
For ordinary Filipinos, the impact of this partnership may be felt in the long term through more stable electricity supply and cleaner power sources. Rural communities near geothermal sites may also benefit from new investments, jobs, and improved local services.
As the country faces rising energy demand and the effects of climate change, officials said partnerships like this are crucial. By working together, institutions can help ensure that development today does not come at the expense of future generations.
The LANDBANK-DOE agreement marks another step toward a more sustainable and energy-secure Philippines, driven by cooperation, innovation, and long-term vision.
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