～Through a Joint Crediting Mechanism～
October 04, 2022
Toshiba Energy Systems & Solutions Corporation
Mizuho-Toshiba Leasing Company, Limited
Toshiba Energy Systems & Solutions Corporation (hereinafter “Toshiba ESS”) and Toshiba (Philippines) Inc. have partnered with Bac-Man Geothermal Inc., (hereinafter “BGI”) a subsidiary of Energy Development Corporation (hereinafter “EDC”), the largest 100% Renewable Energy Company in the Philippines to deliver the Tanawon 20MW Flash Geothermal Power Plant Project (“Tanawon Project”). Toshiba ESS will begin delivering the system in June 2023 with the start of operations scheduled for November 2024.
As a means to this end, the Tanawon Project is one of the Joint Crediting Mechanism (JCM) Model Projects* established by Japan’s Ministry of Environment (hereinafter “JCM Model Project”). Mizuho-Toshiba Leasing Company, Limited (hereinafter “Mizuho-Toshiba Leasing”) has stepped in to act as the Japanese representative participant for the JCM Model Project and will be responsible in the calculation and reporting requirements of the project to Japan’s Ministry of Environment.
The Tanawon Project is 20MW flash geothermal power plant located in Sorsogon City at the southern part of the Luzon Island. Toshiba ESS will supply Geoportable™ and other auxiliaries for the said geothermal power plant.
Geoportable™ is a geothermal power generation system developed by Toshiba ESS for small scale geothermal power generation with an up to 20 MW capacity. As a flash geothermal plant, this system is designed to be efficiently installed, even in a limited area where building a typical power generation system would be difficult. Toshiba ESS’ Geoportable™ technology became Toshiba’s advantage in order to deliver the Project for EDC and BGI.
The Philippines has been developing geothermal power since the 1970s and has the third highest geothermal power generation capacity after the U.S. and Indonesia. Geothermal power is thought to be an ideal method for power generation as a stable power source that does not impact the climate because it is able to generate a relatively large amount of power as renewable energy. In its plan to develop power resources by 2040*1, the Philippine government is emphasizing renewable energy initiatives. This includes the aim to increase the ratio of renewable energy to 20% with more than 50% of all renewable power, or 52,830MW, generated from geothermal energy.
Toshiba ESS has already delivered a total of 13 geothermal power generation system units*2 to the Philippines, which are contributing to a stable power supply throughout the nation. In the future, Toshiba ESS will continue to deliver not only equipment but also predictive diagnostic technologies for geothermal power generation plants using IoT and AI, performance monitoring services, and many other optimal products and solutions that satisfy customer needs.
Mizuho-Toshiba Leasing is focusing efforts on services supporting greater energy conservation and use of renewable energy regardless of the type of lease in accordance with its materiality issue to contribute to the realization of a decarbonized society. This support goes beyond thermal power, micro-hydropower, solar power, and other renewable energy systems to help companies adopt standalone hydrogen energy supply systems, CO2 separation and recovery technology, methanation devices, and a variety of utility equipment. Through the use of national subsidies as a means to this end, Mizuho-Toshiba Leasing supports its customers with decarbonization efforts that will contribute to a carbon-free world with the aim of creating a sustainable society for the future.
Toshiba ESS and Mizuho-Toshiba Leasing will continue to capitalize on each of their unique products and networks to help promote geothermal power generation as one clean energy essential to the realization of a sustainable society.
*1：Department of Energy Philippines (DOE) National Renewable Energy Programme (NREP) 2020-2040
*2：Including third-party replacements and generators supply; as of October 4, 2022
| Plant name | Tanawon Geothermal Power Plant |
| Owner | Bac-Man Geothermal Inc. |
| Scope of contract with Toshiba ESS | 1x20MW steam turbine and generator (GXP-X) including cooler, cooling tower, main transformer, and other auxiliaries for geothermal power generation equipment |
| Start of operations | November 2024 (planned) |
Japan established the Joint Credit Mechanism (JCM) for projects using superior decarbonization and other technologies to not only reduce but also measure, report, and verify (MRV) greenhouse gas emissions in developing countries and other nations. In addition to reducing greenhouse gas emissions in developing and other nations, JCM operates with the goal of achieving the greenhouse gas emission reduction targets of Japan and partner countries. The subsidy provides support for up to half of the initial investment costs required to use superior decarbonization and other technologies. In this project, the Philippines and Japan have joined forces to realize the Tanawon Flash Geothermal Power Plant Project with an estimated reduction of approximately 38,000 tons of CO2 every year.
Information in the News Release, including product prices and specifications, content of services and contact information, is current on the date of the News Release , but is subject to change without prior notice.
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Joint Crediting Mechanism (JCM): The Joint Crediting Mechanism is a framework established by Japan's Ministry of Environment to facilitate projects using superior decarbonization and other technologies. The JCM not only aims to reduce greenhouse gas emissions in developing countries but also emphasizes the measurement, reporting, and verification (MRV) of these emissions. It operates with the goal of achieving emission reduction targets for both Japan and partner countries.
Tanawon 20MW Flash Geothermal Power Plant Project: This project involves the collaboration of Toshiba Energy Systems & Solutions Corporation (Toshiba ESS), Toshiba (Philippines) Inc., Bac-Man Geothermal Inc. (BGI), and Mizuho-Toshiba Leasing. The Tanawon Project is a 20MW flash geothermal power plant located in Sorsogon City, Philippines. It utilizes Toshiba ESS' Geoportable™ technology, designed for small-scale geothermal power generation with up to 20 MW capacity. The project is part of the JCM Model Projects, and Mizuho-Toshiba Leasing acts as the Japanese representative participant responsible for calculation and reporting to Japan's Ministry of Environment.
Geoportable™ Technology: Geoportable™ is a geothermal power generation system developed by Toshiba ESS specifically for small-scale geothermal power projects. This technology is efficient and designed for easy installation, even in areas where traditional power generation systems might face challenges. In the Tanawon Project, Geoportable™ plays a crucial role in delivering the flash geothermal power plant.
Renewable Energy in the Philippines: The Philippines has been actively developing geothermal power since the 1970s and is recognized as having the third-highest geothermal power generation capacity globally, following the U.S. and Indonesia. Geothermal power is considered an ideal method for generating stable, renewable energy that does not adversely impact the climate.
Philippine Government's Renewable Energy Initiatives: The Philippine government has set ambitious targets for renewable energy in its plan to develop power resources by 2040. The goal includes increasing the ratio of renewable energy to 20%, with more than 50% of all renewable power, equivalent to 52,830MW, generated from geothermal energy.
Mizuho-Toshiba Leasing's Role: Mizuho-Toshiba Leasing is actively participating in the Tanawon Project and serves as the Japanese representative participant for the JCM Model Project. The company is responsible for the calculation and reporting requirements of the project to Japan's Ministry of Environment. Mizuho-Toshiba Leasing focuses on supporting energy conservation and the use of renewable energy, extending its efforts beyond traditional areas like thermal power, micro-hydropower, and solar power to include standalone hydrogen energy supply systems, CO2 separation and recovery technology, methanation devices, and various utility equipment.
Emission Reduction and Climate Impact: The Tanawon Flash Geothermal Power Plant Project, supported by the JCM subsidy, aims to reduce approximately 38,000 tons of CO2 emissions annually, contributing to the joint efforts of the Philippines and Japan in realizing a sustainable and decarbonized society.
In summary, the Tanawon Project exemplifies a collaborative effort between Japanese and Philippine entities to harness geothermal energy through innovative technology, aligning with global sustainability goals and utilizing mechanisms like the Joint Crediting Mechanism to achieve significant emission reductions.
