Manila to double renewable energy capacity with new law
05/25/2009 | 05:15 PM
MANILA, Philippines - The Philippines intends to double its renewable energy (RE) capacity in 10 years after the government approved rules covering the implementation of the Renewable Energy Act (Republic Act 9513).
In a decade, Manila intends to produce 9,000 megawatts (mWs) of power, twice its current levels, Department of Energy Secretary Angelo T. Reyes said.
The country is estimated to produce some 4,531 mWs from geothermal energy; 13,097 mWs from hydropower, 5.1 kilowatt hours per square meter a day from solar, 76,600 mWs from wind, and 170,000 mWs from oceanic waves.
A renewable energy project may need an investment of about $1 million to $2 million per megawatt, according to latest estimates.
A regular household is estimated to consume one megawatt of electricity for one year.
The country may also attract as much as $10 billion in fresh investments with the approval of the law’s implementing rules and regulations (IRR), the energy department said.
The agency is currently examining 15 projects, mostly undertaken by local groups with foreign partners, DOE director Mario Marasigan said.
The projects cover wind, hydro, biomass, solar, and ocean projects, he added.
Besides state-owned PNOC-Renewables Corp., companies interested in renewable energy projects include Lopez-led First Gen Corp., Aboitiz Power Corp., Trans-Asia Power, Energy Development Corp., Suweco, Constellation Corp., Oriental Energy, Green Power Philippines, Deep Ocean Philippines, Norasian Corp., and Philcarbon.
Next: Law allows renewable energy firms to enjoy tax breaks
In a decade, Manila intends to produce 9,000 megawatts (mWs) of power, twice its current levels, Department of Energy Secretary Angelo T. Reyes said.
The country is estimated to produce some 4,531 mWs from geothermal energy; 13,097 mWs from hydropower, 5.1 kilowatt hours per square meter a day from solar, 76,600 mWs from wind, and 170,000 mWs from oceanic waves.
A renewable energy project may need an investment of about $1 million to $2 million per megawatt, according to latest estimates.
A regular household is estimated to consume one megawatt of electricity for one year.
The country may also attract as much as $10 billion in fresh investments with the approval of the law’s implementing rules and regulations (IRR), the energy department said.
The agency is currently examining 15 projects, mostly undertaken by local groups with foreign partners, DOE director Mario Marasigan said.
The projects cover wind, hydro, biomass, solar, and ocean projects, he added.
Besides state-owned PNOC-Renewables Corp., companies interested in renewable energy projects include Lopez-led First Gen Corp., Aboitiz Power Corp., Trans-Asia Power, Energy Development Corp., Suweco, Constellation Corp., Oriental Energy, Green Power Philippines, Deep Ocean Philippines, Norasian Corp., and Philcarbon.
Next: Law allows renewable energy firms to enjoy tax breaks
