Connect with us

Hi, what are you looking for?

Economy

DoE evaluating renewables applications covering 1,479 megawatts

THE Department of Energy (DoE) said Tuesday that it has received 44 applications for renewables service and operating contracts linked to projects with the potential to generate 1,479 megawatts (MW).

The proposals cover solar, wind, hydro, biomass and geothermal projects, it said.

RE (renewable energy) operating contracts are service agreements between the DoE and the developer for biomass and solar projects that do not need to go through the pre-development stage. RE service contracts are service agreements giving the developer the exclusive right to explore, develop and use geothermal, hydro, wind and ocean resources in a defined area.

The project with the highest potential capacity was the 500-MW Balsa Pumped Storage Hydropower facility in San Jose, Tarlac, which was proposed by Strategic Power Development Corp.

Hydropower plants attracted 26 applications, solar 10, and wind five.

In a separate announcement, the DoE said it awarded a “for-own-use” wind project to the Department of Science and Technology’s Industrial Technology Development Institute in San Pablo City, Laguna.

The DoE on Tuesday also released the summary of its RE projects, announcing that the segment had an estimated generating capacity of 26.85 million MWh (megawatt-hour) as of the end of September.

Under the Renewable Energy Act of 2008, the government is required to accelerate the exploration and development of RE resources. — Angelica Y. Yang

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

By Keisha B. Ta-asan, Reporter PHILIPPINE BANKS will continue to see improved profits this year, supported by better margins following the central bank’s rate...

Economy

THE PHILIPPINE government’s move to grant value-added tax (VAT) refunds for foreign tourists is expected to boost the tourism industry’s recovery from the coronavirus...

Economy

By Luisa Maria Jacinta C. Jocson, Reporter THE GOVERNMENT should diversify its major growth drivers to rely less on consumption as household spending is...

Economy

By Arjay L. Balinbin, Senior Reporter SMEC Philippines, Inc., a unit of Singaporean infrastructure and urban development consultancy company Surbana Jurong Group, said it...

Economy

THE Securities and Exchange Commission (SEC) warned the public against putting money in three entities, which are soliciting investments without first securing a license....

Economy

DMCI Holdings, Inc. and Union Bank of the Philippines are seen to improve their liquidity and stock valuation after their re-entry to the Philippine...

You May Also Like

Investing

Browsing history makes referring to sites and pages you’ve visited in the past seamless. It’ll help you recall what page you checked out on...

Investing

The minute that any question pops into your head, you can simply ask Google. No longer do we have to pour over books and...

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.