RP may turn into renewable energy hub — Energy exec

By developing new renewable energy projects, the Philippines may become a regional hub for renewable energy in Southeast Asia within the term of President Benigno Aquino III, a Department of Energy official said this weekend. Energy Assistant Secretary Mario Marasigan said foreign manufacturing firms may put up their factories in the country if the Philippines can boost investments in renewable energy. "If we develop the resources, then we can develop the technologies. If it works well, then the market will be there," he said. For example, United States-based solar technology developer SunPower Philippines Manufacturing Ltd. has built a manufacturing plant in Laguna province in southern Luzon. Marasigan said the department is optimistic that given the right investment climate and conditions more assembly plants like SunPower will set up shop in the country. Republic Act No. 9013 or the Renewable Energy Act of 2008 says that examples of renewable energy resources are: "biomass, solar, wind, hydro, geothermal and ocean energy sources, including hybrid systems." These are used to "achieve energy self-reliance, through the adoption of sustainable energy development strategies, to reduce the country's dependence on fossil fuels and thereby minimize the country's exposure to price fluctuations in the international markets," according to the law. Since RA 9013 was signed into law in December 2008, the Energy department has signed some 205 contracts for renewable energy projects. The contracts are worth P88 billion and are equivalent to 4,400 megawatts of new capacities. The DOE is now reviewing at least 382 renewable energy project proposals. When President Aquino assumed office in June, part of his platform is to achieve a government "that will encourage sustainable use of resources to benefit the present and future generations." — With Sophia Dedace/VS, GMANews.TV