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Your email address will not be published.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

THE PHILIPPINES lags regional peers in terms of the share taken up by solar and wind energy in its power mix, energy think tank...

Economy

THE PHILIPPINE government tempered its economic growth target for this year, as rising inflation and ballooning debt threaten to hamper the economy’s recovery from...

Economy

By Keisha B. Ta-asan SOURED LOANS held by Philippine banks declined for a third straight month in May, bringing the nonperforming loan (NPL) ratio...

Economy

THE NATIONAL Government is hoping local government units (LGUs) will channel their expanded budgets into raising agricultural output, Finance Secretary Benjamin E. Diokno said....

Economy

THE MARCOS administration should immediately address power supply shortages and high electricity rates, which are affecting businesses in the country, the Philippine Chamber of...

Economy

MANILA Electric Co. (Meralco) has confirmed receipt of an order from the Energy Regulatory Commission (ERC) directing the country’s largest power distribution utility to...

You May Also Like

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...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

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...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

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.