The Department of Energy (DOE) is putting stress on the development of geothermal- and hydro-based power generation as it pushes for a renewable energy promotion program with an initial portfolio of 2,000 megawatts (MW).
“We are determined to establish a Green Energy Auction Program with an initial 2000 MW, which would augment renewable energy capacity in the grid,” Energy Secretary Alfonso Cusi said in a statement.
“This pricing program will support renewable energy-based generators in securing power supply agreements and selling their energy through the establishment of a fair baseline price,” Cusi said.
The energy chief said that among the various renewable energy technologies, it was “best to focus on the resources that are readily available and extend all the necessary support to encourage its development,” referring to indigenous resources like geothermal and hydro.
Cusi added that the coronavirus pandemic has revealed the vulnerability of energy systems, which highlights the need to ensure energy security.
He said that since 2016, the DOE had awarded 472 renewable energy service contracts, with a potential capacity of 20,000 megawatts that may translate to an additional 8-percent share of renewables in the Philippines’ total primary energy supply.
“This is higher than our indicative and committed coal plants for the same period, which has a potential capacity of only (14,500 MW),” he added.
Lopez-led Energy Development Corp. (EDC) welcomed Cusi’s statements, saying this would help the Philippines reclaim the top spot among countries that produce geothermal energy.
“We affirm the secretary’s strategy of using readily available and abundant clean, renewable resources,” said EDC official Marvin Bailon.