DOE Secretary Angelo Reyes announced that his department will be giving incentives to investors in environment-friendly renewable energy projects like biomass, solar and wind energy, bio-ethanol and fuel cell plant in the form of income tax holiday for six years and low tariffs.
They will also give non-fiscal incentives to pioneering projects in compressed natural gas (CNG) or the natural gas vehicle program for public transport and energy-related projects.
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The Philippine Department of Energy Announced that the Philippines is set to implement the 2% biodiesel mixing requirement in diesel sold at the pump by Feb next year. This is in conjunction with the requirement of the Philippine Biofuel Law for biodiesel to be mixed with diesel sold at the pump.
In line with this they are going to issue some technical standards for the 2% mix. According to Chemrez Technologies Inc. chief operating officer, Dean Lao Jr, who attended the technical working group. This is so that the the industry can come up with tighter specification so that there is minimal risk of adulteration with methyl ester other than that not made of coconut.
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While Philippine Bioethanol production is still ramping up in order to meet the requirements of the Philippine Biofuel Law, Oil players are allowed to import their bioethanol requirements from abroad.
The Philippine Biofuel Law has provisions which allow for importation of biofuels is local supply cannot meet the demand. Which is what the 3 major oil players (Petron, Shell and Chevron) are doing.
In order to save on importation costs they announced that they are talking over the idea to import their bioethanol requirements jointly in order to get volume discounts.
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Cavite Biofuels Producers Inc. (established in Jan 2008) announced that they are setting up a P3.3 billion ethanol distillery which can produce 125,000 liter-per-day of bioethanol. Along with the production and processing facilities is a 5MW cogeneration plant which will produce electricity for the distillery.
Situated Bgy. Caluangan in Magallanes it is projected to begin production in 2010. According to the report, this is the closest bioethanol distillery to capital of Manila.
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The MOU which would have partnered Metro Pacific and Basic Energy to biodiesel bioethanol refineries in the Philippines has been cancelled by the former after some due diligence study of the proposed venture.
In a written disclosure to the Philippine Stock Exchange, Metro Pacific said:
“After an evaluation by MPIC of the biofuels project of BEC and BBC, a decision has been arrived to discontinue the consideration of a possible investment or participation in such biofuels project of BEC”
