Following the launch of the third Green Energy Auction (GEA-3), the Department of Energy (DOE) announced that submitted offers for renewable energy (RE) technologies from qualified bidders exceeded the initial capacity target. In a statement on Wednesday, Feb. 12, the DOE reported that the total...
The Department of Energy (DOE) shared that financial partnerships and government support will play a key role in de-risking geothermal exploration in the country, as its costs are expected to decrease over the next 20 years. During a University of the Philippines (UP) lecture on the country's...
The Department of Energy (DOE) said it will release the Terms of Reference (TOR) for the fourth Green Energy Auction (GEA-4) this month, which includes the Integrated Renewable Energy Storage System (IRESS). The TOR will outline the auction's specific provisions and procedures, covering technical,...
Ayala-led ACEN Corp. announced Tuesday, Feb. 4, that it has increased its stake in its subsidiary, Belenos Energy Corporation, to bolster its renewable energy (RE) portfolio. In a disclosure to the Philippine Stock Exchange, ACEN said it signed a subscription agreement worth ₱392 million to...
The Energy Regulatory Commission (ERC) has firmed up the intricate ‘tariff-setting parameters’ or price determination methodology that will anchor the 20-year power supply agreements (PSAs) in the third Green Energy Auction (GEA-3) to be administered by the Department of Energy (DOE) -...
The Department of Energy (DOE) is firming up a policy that will reduce the performance bond requirement for offshore wind projects to a leaner five percent, a departure from the typical 20 percent required in green energy auctions (GEA) for other renewable energy (RE) technologies. At a year-end...
The Gordian knot of the power sector’s regulatory affairs will be eased as the Energy Regulatory Commission (ERC) is already scheduled to resume its formal Commission meeting this Monday (September 30), which will be the first under the supervision of Officer-in-Charge Chairperson and CEO Jesse...
The joint venture of Copenhagen Energy (CE) and PetroGreen Energy Corporation as developer of the frontrunner 2.0-gigawatt (2,000 megawatts) Buhawind offshore wind farm project in Ilocos Norte is now seeing the finish line clearer for 2028, following government declarations of resolving hurdles on...
Investors in the offshore wind industry are advancing a proposal to the Department of Energy (DOE) that delays in the availability of critical infrastructure – primarily grid connections as well as port support facilities – shall be declared as ‘force majeure’ events in the terms of...
A whopping investment of $3 billion (approximately P165 billion) will be injected by Danish firm Copenhagen Offshore Partners (COP) for the first 1,000 megawatts San Miguel Bay offshore wind project in Camarines Sur that it is targeting to bring on commercial stream by 2028. On prevailing rule of...
The procurement of replacement power under the Green Energy Option Program (GEOP) will be allowed at 50 percent renewable energy (RE) capacity during the three-year transition period that shall be enforced in the amended policy for this segment of the power industry. In a draft Circular furnished...
The six-month suspension meted by the Office of the Ombudsman against the chairperson of the Energy Regulatory Commission (ERC) is seen delaying the approvals of pending power supply agreements (PSAs) as well as the reserve price-setting for the auction of renewable energy (RE) capacities that are...
