P26.7B IN RENEWABLE ENERGY PROJECTS OKD
THE Board of Investments (BOI) recently approved nine renewable energy (RE) projects worth P26.7 billion.
In a statement, the BOI said the projects qualified for incen under the Special Laws List of the 2017 Investment Priorities Plan ( IPP).
“The production of renewable power is becoming cheaper and it is fast becoming a better alternative toward addressing power suf the economic development of our country,” Trade Undersecretary and BOI Managing Head Ceferino Rodolfo said.
“In other parts of the world, renewables like solar [ energy] are already cheaper than fossil fuel-based power, and these countries are already transitioning to 100-percent renewable electricity. Sooner or later, we have to face this inevitability, with the expectation it will bring down power costs while ensuring enough power supply for the country,” he added.
One of the approved projects Corp.’s P3.5-billion, 15.1-megawatt ( MW) Siguil hydropower plant, which it is setting up in Sarangani province.
The project is a run-of-river type Nomoh villages in Sarangani’s Maasim town. It aims to capture power station equipped with a turbine and generator. The water will be returned to the river and discharged to Sarangani Bay.
Formal operations are expected
of Valenzuela Corp.’ s P234.5- million, 4.7 MW solar project in Valenzuela City. The company is developing the grid-connected PV power-generation plant on an approximately 4.8-hectare lot in the city’s Barangay Isla.
It will be connected to the grid through the Manila Electric Co. ( Meralco), with power to be sold to the Wholesale Electricity Spot Market ( WESM). It is expected to start commercial
For its part, Repower Energy Development Corp. is constructing the P1.55- billion, 6.2 MW Katipunan River mini-hydropower plant in Bukidnon province.
The power firm will also put up two additional hydropower plants--the P 1.1 billion, 4.4 MW Tibag River hydroelectric power plant in Quezon province; and the P2.1-billion, 10 MW Pulangui IV facility, also in Bukidnon.
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Other approved RE projects are Ormoc Solar Energy Corp.’s P6.6- billion, 100.8 MW Naic Solar Power Plant, to be built on a 120-hectare lot between Naic and Tanza towns and Trece Martires City in Cavite province; and a P8.25- billion, 126 MW solar facility in Pagbilao municipality, Quezon province.
Operations for the former are set
Completing the list are Nuevo Solar Energy Corp.’s P1.7-billion, 40.3 MW Lumban Solar Power project, which shall also be connected to Meralco and is expected the P1.7-billion, 25.2 MW Bangyas solar plant in Calauan town, Laguna, province, which is on track
Energy’s (DOE) Renewable Energy Roadmap 2017-2040, the country expects to have at least 20,000 MW of RE installed by 2040.
The National Renewable Energy Program ( NREP), through the promotes the development and optimal use of the country’s RE resources as essential to the country’s sustainable energy agenda.