Renewable energy developer Energy Logics is seeking government approval of its proposed 120-megawatt wind farm and 50-MW solar facility in Ilocos Norte, so that it can tap feed-in-tariff rates for these clean power sources.
Energy Logics managing director Marco Prieto Delgado said in an interview that the company remained keen on pushing its capital-intensive projects.
“We continue to support and lobby the government to the best of our capability and knowledge. The Philippines is an attractive investment target for various reasons, though of course delays and setbacks on renewable energy do not help our case,” Delgado told the Inquirer.
Energy Logics, Delgado added, will go ahead and implement its projects bared in 2011, despite the lower than expected feed-in-tariff rates issued in July last year.
For solar projects, the Energy Regulatory Commission approved a FIT rate of P9.68 a kilowatt-hour, as opposed to the P17.95 a kWh initially sought by the industry.
For wind projects, the approved rate was P8.53 a kWh, also lower than the P10.37 a kWh sought by the private sector.
Within seven years, Energy Logics plans to put up wind farms that can generate a total 420 MW, and a solar power portfolio that can produce more than 250 MW in additional capacity.
These proposed projects may require $1.8 billion in investments.
The Department of Energy, however, has yet to announce which of the renewable energy developers and their projects will be granted an allocation from the limited 760-megawatt installation target.
As of December last year, Mario Marasigan, director of the Renewable Energy Management Bureau of DOE, said that the DOE was still formulating the parameters that will determine which of the projects will be approved for implementation.
Under the current installation target, the 250 MW has been allocated for hydropower projects, 250 MW for biomass, 50 MW for solar, 200 MW for wind power and 10 MW for ocean power.