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Sat, Nov 18 2017

BOI approves more RE projects worth P26.7 B


The Board of Investments (BOI) has approved nine renewable energy projects with combined investment pledges of P26.7 billion. These projects include Ormoc Solar Energy Corp., Repower Energy Development Corp., Nuevo Solar Energy Corp., Alsons Energy Development Corp., and Ecopark Energy of Valenzuela Corp. Ormoc Solar Energy Corp. has committed to invest R14.85 billion for two solar power projects. It is the biggest of the 9 approved RE projects.. Ormoc Solar Energy Corp. is developing a P8.25 billion solar plant in Pagbilao, Quezon with 126 MW power capacity. It will employ 22 people when operations start in July 2019. The other project of Ormoc Solar is the P6.6 billion solar project in Cavite. Dubbed as the Naic Solar Power plant, it is a 100.8 MW plant situated between Naic, Tanza and Trece Martires City. The 120-hectare plant will be connected to Meralco which is approximately 5 km away from the site. Operations are on track to start on January 2019 with 26 personnel. Repower Energy Development Corp. has also committed to invest a total of P4.75 billion for three RE pojects. The company is constructing a P1.55 billion 6.2 MW hydropower plant known as the Katipunan River Mini-hydropower plant in Bukidnon.

The two others are hydro power projects of Repower are located in Quezon province and in Bukidnon. The company is investing P1.1 billion 4.4 MW Tibag River hydroelectric power plant in Quezon province and the P2.1 billion 10 MW Pulangui IV facility in Bukidnon. These three plants will start commercial operations simultaneously in April 2019 with 18 personnel each. Nuevo Solar Energy Corp. has also proposed to put up two solar plants with total investments of P4.4 billion. One of these projects is a P1.7 billion 40.3 MW solar plant in Lumban, Laguna. The Lumban Solar Power project covering 50 hectares will be connected to Meralco for electricity distribution. Operations are scheduled to start on April 2019 with 15 people on board. The second project is another P1.7 billion 25.2 MW solar plant in Calauan, Laguna. To be known as the Bangyas plant, this will start operations in July 2019 with 10 personnel manning the facility. Alsons Energy Development Corp., which is owned by the Alcantara Group, is putting up a R3.5 billion 15.1 megawatt hydropower plant in Sarangani. Called the Siguil Hydro Power project is expected to start formal operations in August 2020 with 20 personnel on board. The plant is a run-of-river type of hydro project located in Barangay Amsipit and Nomoh, in the municipality of Maasim, Sarangani Province. The system aims to capture the flow of Siguil River from Barangay Nomoh to Barangay Amsipit through a power station equipped with a turbine and generator. The water will be returned to the Siguil River and be discharged finally to Sarangani Bay. Ecopark Energy of Valenzuela Corp. is building a P234.5 million 4..7 MW solar plant in Valenzuela City. The company is developing a 4.7 MW Grid-Connected PV Power Generation plant to be set-up in an approximately 4.8 hectare-land located in Barangay Isla, Valenzuela City. The PV power station will be connected to the grid through MERALCO. The plant will employ 9 personnel when operations kick off in April 2018. Trade Undersecretary and BOI Managing Head Ceferino Rodolfo said these projects qualified for incentives under the Renewable Energy Act No. 9513 which is covered under the Special Laws List of the 2017 Investment Priorities Plan (IPP). “Production of renewable power is becoming cheaper and it is fast becoming a better alternative towards addressing power-sufficiency and cost-effectiveness in the economic development of our country,” said Rodolfo.

In granting tax incentives to these projects, Rodolfo stressed that in other parts of the world, renewables like solar are already cheaper than fossil-fuel based power and these countries are already transitioning to a 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. According to the DOE’s Renewable Energy Roadmap 2017-2040, the country expects to have at least 20,000 MW of RE installed by the year 2040. The National Renewable Energy Program (NREP) through the implementation of the RE Act promotes the development and optimal use of the country’s RE resources as essential to the country’s sustainable energy agenda. RE plays a vital cog in the country’s low emissions development strategy and also has a pivotal role in addressing the challenges of climate change, energy security, and access to energy. As of June 2017, RE plants supplied 7,038 MW of installed capacity in the country, or 32.5 percent of the national output of 21,621 MW, according to data published by the Department of Energy (DOE). Among RE plants, hydro power is the biggest supplier with 3,637 MW of installed capacity, accounting for more than half (51.7 percent) of the total capacity. Geothermal came in second with 1,906 MW, followed by Solar (843 MW), Wind (427 MW) and Biomass (224 MW).

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