With the imprimatur of President Ferdinand Marcos Jr., the Department of Energy (DOE) said it will now go ahead in crafting the regulation framework for billion-dollar investments being wooed for offshore wind industry development. “The President has given the greenlight to proceed and firm up...
The Energy Regulatory Commission (ERC) will be calculating new green energy auction reserve (GEAR) tariffs to serve as "price ceiling" for next round of renewable energy (RE) capacity auction to be administered by the Department of Energy. The regulatory body indicated that it can only draw up the...
The Department of Energy (DOE) has awarded 20-year power supply agreements (PSAs) to 19 RE developer firms that will deliver aggregate capacity of 2,000 megawatts to augment the country’s power supply under the Green Energy Auction Program (GEAP). or renewable energy (RE) bidding last June 17,...
Roughly two weeks before the exit of the Duterte administration, the Department of Energy (DOE) is scheduling on June 17 the first round of bidding of 2,000 renewable energy capacities under the Green Energy Auction Program (GEAP). An advisory issued by Energy Secretary Alfonso G. Cusi on...
Having jettisoned coal on its loan portfolio for new wave of power plant developments, Yuchengco-led Rizal Commercial Banking Corporation (RCBC) said it will be focusing project lending to at least 1,600 megawatts of renewable energy (RE) ventures in the next two years. In a media webinar, RCBC...
The Department of Energy (DOE) will be firming up the terms of reference (TOR) for the targeted auction of 2,000 megawatts of renewable energy (RE) capacity that will be offered to investors this year. The TOR for the RE bidding, according to Energy Assistant Secretary Redentor E. Delola, will be...
Listed firm Solar Philippines Nueva Ecija Corporation (SPNEC) has inked a 10-year power supply agreement (PSA) with Angeles Electric Corporation (AEC), a privately owned power distribution company that is touted to be the third biggest in Luzon grid. According to SPNEC, it will supply 97.8 megawatt...
The Green Energy Auction Committee (GEAC) of the Department of Energy (DOE) has officially kicked off the tendering process for 2,000 megawatts of renewable energy (RE) capacity that shall be accredited in the government's Renewable Portfolio Standards (RPS), a market mechanism that will guarantee...
Power utility giant Manila Electric Company (Meralco) is soliciting bids for 850-megawatt renewable energy (RE) capacity via competitive selection process (CSP) that will match the unsolicited offer of Terra Solar of the Razon-Leviste group. In a bid notice submitted to the Department of Energy...
The Department of Energy (DOE) has listed 2,619 megawatts of eligible renewable energy (RE) capacity that can be granted incentives under the Renewable Portfolio Standards (RPS) in the energy sector. RPS is an incentive mechanism for RE investments in the country because it provides market for RE...
The Department of Energy (DOE) has finally cemented the policy that will grant 10-percent corporate tax rate for project-developers in the renewable energy (RE) sector. Department of Energy The department has concretized that edict via the issuance of Department Circular No. DC2021-12-0042 that was...
DOE firms up 2,000MW RE capacity auction By MYRNA M. VELASCO The Department of Energy (DOE) has finally firmed up the initial capacity requirement of 2,000 megawatts for bidding to prepare for the implementation of the Renewable Portfolio Standards (RPS) policy of the RE sector. Energy Assistant...
