The Philippine Department of Energy (DOE) announced that they were able get about P90 billion worth of Renewable Energy contracts signed with at least 18 groups of foreign and local investors.
With this they are projecting that 40% of the country will be powered by renewable energy based power plants with a capacity of 9,147 MW by 2013. Current Renewable Energy capacity of the Philippines is at 4,449 MW.
According to this article however there is still a huge dependence on coal in the Philippines to power its grid.
The DOE also said that they are looking forward to signing between 60 to 80 more RE contracts in 2010.
Of the 87 contracts signed by the DOE by Oct. 23, 2009, they include: Deep Ocean Power Philippines Inc. (DOPPI); Trans-Asia Renewable Energy Corp. (TAREC); Constellation Energy Corp (CEC); Century Peak Energy Corp.; PNOC-Renewables Corp.; Energy Development Corp. (EDC); First Gen Bukidnon Power Corp.; Luzon Hydro Corp.; Lucky PPH International, Inc.; First Gen Mindanao Hydro Power Corp.; AV Garcia Power Systems Corp.; Benguet Electric Cooperative, Inc.; Alternergy Philippine Holdings Corp. (APHC); DOST-Industrial Technology Development Institute; and HEDCOR, Inc.
Meanwhile in the Biofuels front the following companies were given accreditation by the DOE as biofuel producers: San Carlos Bioenergy, Inc.; Chemrez Technologies, Inc.; Golden Asian Oil International Inc.; Cavite Biofuels and Leyte Agri Corp.
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Category: Coal, Clean Energy
