Solar power to grow sixfold by 2030 as sun becomes cheapest resource

Solar plants using photovoltaic technology could account for 8 percent to 13 percent of global electricity produced in 2030, compared with 1.2 percent at the end of last year, an expansion as much as sixfold by 2030 as the cost of production falls below competing natural gas and coal-fired plants, according to the International Renewable Energy…

Ifugao province plant power generation component to cost $420M

SN POWER Philippines, Inc. has estimated the cost of the power generation component of a hydroelectric power complex it is developing in Alimit, Ifugao province with the Aboitiz group at $420 million, a company official said. The hydro project is 390-MW complex composed of three facilities — the 120-MW Alimit hydropower plant; the 250-MW Alimit pump-storage…

More Meralco customers get net metering

More electricity customers are shifting to the net metering program and the trend is expected to continue as the cost of solar panels keep going down, a ranking Manila Electric Co. (Meralco) official said. Meralco started with one customer under the net metering program in 2013. By end-2015, the power distributor has over 200. And…

List of coverage of draft RPS rules

The DOE, in its draft RPS rules, listed nine renewable energy technologies from which mandated participants can choose from: biomass, waste-to-energy, wind, solar, run-of-river hydropower, impounding hydropower, ocean energy, hybrid systems, and geothermal. The department qualified that it may later identify other technologies for inclusion upon the recommendation of the National Renewable Energy Board (NREB). Aside from…

Coal plants face challenges with Lopez

New coal power plant projects are facing uncertainties following the appointment of Regina Lopez as the new Environment secretary, an industry executive said Thursday.  President-elect Rodrigo Duterte named Lopez as the new head of the Environment Department, which is in charge of issuing environmental compliance certificates to new power projects.  The coal plants are also…

MVP: RP needs $30 B investments in power

The Philippines needs to invest $30-billion worth of power projects in the next 15 years to meet growing demand amid economic expansion. However, government needs to come out with clearer policy direction on the appropriate energy mix power developers will have to follow, businessman Manuel V. Pangilinan said yesterday. Read more here.

Energy World set to open LNG plant

Energy World Corp. committed to commission the first 200-megawatt unit of the 650-MW liquefied natural gas combined cycle power plant in Pagbilao, Quezon by the end of the year. Energy Department director Irma Exconde of the Electric Power Industry Management Bureau said EWC was supposed to commission the first unit within six months. Read more here.

List of FIT-eligible solar projects

THE DEPARTMENT of Energy (DoE) has endorsed seven solar projects to receive a subsidized rate of P9.68 for each kilowatt-hour (kWh) they feed into the electricity distribution or transmission network while 17 others are to get P8.69 per kWh, ending speculation about the outcome of its installation target for the renewable energy.  The full list…

526MW of solar projects make it to FIT

A TOTAL of 526 megawatts (MW) of installed solar power capacity made it to the race for Feed-in-Tariff (FIT) incentives, according to data released Tuesday by the Department of Energy (DOE).  The approved capacity was just half of the total 1,047.9MW endorsed by DOE for FIT incentives. The list included projects of listed firms and prominent…

RP needs more investments in renewable energy

MORE investments on clean energy are seen to accelerate the Philippines’s goal to mitigate its carbon emission by 2030 and eventual transition to renewable energy (RE) by 2050. Cleantech Venture expert Charles Cole Navarro said around $1.26 trillion worth of investment in energy efficiency, RE and energy access is needed annually worldwide. Given such amount of commitment…

Japan to continue support of coal

JAPAN, faced with increasing calls from environmentalists to phase out coal, is standing by its support of the fossil fuel, saying it will help developing countries adopt the best available technologies for coal-fired power plants. Read more here.

Banks financing more to RE projects

Philippine banks have become increasingly supportive of renewable energy (R.E.) financing, taking their cue from investors who funnel more funds into more sustainable power generation projects, energy and financial experts said at the Nordic Business Council Philippines forum.  BDO Unibank, for one, has an exposure of about P33 billion to R.E. projects. The bank partnered with…