DoE to sign 8 renewable energy contracts
The Department of Energy (DoE) is set to sign eight renewable energy contracts for wind and solar energy, with initial investments seen reaching $82 million (about P3.5 billion) within a two-year period.
These deals form part of the estimated 70 contracts that the DoE targets to sign within the month in pursuit of energy security through the use of renewable energy (RE) resources.
According to a government source, investments in the two solar RE contracts are seen to reach $20.531 million (about P882 million), while the six pending wind contracts would involve investments of $61.488 million (about P2.6 billion).
DoE documents showed the solar contracts that were up for signing were those for the Kirahon solar power project in Villanueva, Misamis Oriental, which will be undertaken by Cagayan Power and Light Co. Inc.; and Energy Logics Philippines Inc.’s Pasuquin-Burgos solar power project in Pasuquin-Burgos, llocos Norte.
The contracts for the two wind projects of Energy Logics are also up for signing. These are the North Pasuquin and Mt. Redondo wind power projects in Pasuquin, llocos Norte, and Subic, Zambales, respectively.
The Lopez-led First Gen Renewables can also soon expect contracts for its three proposed wind-power projects in Burgos 2, llocos Norte; Basud, Camarines Norte; and Mercedes and Daet in Camarines Norte. The contract for the Sagada wind power project of PhilCarbon Inc. is expected to be approved soon.
In the meantime, the government source also said the DoE has approved ATN Philippines Solar Energy Group Inc.’s planned solar facility in Macabud, Rodriguez, Rizal. The project was estimated to initially cost $3.76 million (P161 million) during the predevelopment stage.
In a related development, the DoE is launching the National Renewable Energy Plan on Tuesday as the government targets to increase the RE-based power capacity of the country by as much as 15,236.3 megawatts in 2030. Currently, the country’s RE-based power capacity stood at 5,369 MW.
According to the DoE, the NREP was crucial as it would outline national RE targets and establish a framework for existing and planned policies for the promotion of RE and a roadmap that will guide implementation efforts.
“For a country reliant on imported energy sources, these developments signal a fairly dramatic shift toward greater energy independence. With the utilization of RE sources finally gaining more interest, the department needs only to entice more investors in the country to harness the vast resources that it already has,” the DoE said in a statement.
President Benigno S. Aquino III and about 400 RE advocates are expected to attend Tuesday’s NREP launching.
