A month after announcing that they had decided on the FeedIn Tariff Rates (FIT) for the Renewable Energy sector, the National Renewable Energy Board announced that they have submitted already for approval the FIT rates. As more light gets shed into the matter with this recent announcement, it turns out that the recommended FIT is actually graded depending on the type of renewable energy investment.

The following are the recommended FIT rates based on the type of renewable energy project: solar power (P17.95/kWH), ocean power (P17.65/kWh), wind power (P10.37/kWh), biomass (P7/kWh) and hydro (P6.15/kWh)
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Publicly listed Ayala Corporation (Ayala Corp) disclosed to the Philippine Stock Exchange that they had acquired 50% of NorthWind Power Development Corp from Michigan Power Inc. NorthWind Power operates the already famous wind farms at Bangui Bay, Ilocos Norte. This acquisition also signals the entry of Ayala Corp into the power generation business.

Ayala Corp also recently went into a Joint Venture agreement with Mitsubishi Corp of Japan for a solar power project.
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Subic Wind Power Generation Inc. (SWPGI) recently announced that they will alot $125 million to expand further their renewable energy project at the Subic Freeport. Their plan is that on top of the announced 50MW 25 turbine wind farm will be the establishment of a 100~200 MW Solar Farm.

The project will be done at Mount Sta. Rita and Redondo Peninsula which will encompass about 300 hectares of land. It is projected to employ about 150 workers for its operation.
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The Department of Energy (DOE) said that they believe that the Philippines can be successfully made into a South East Asia regional renewable energy hub during the term of current president, Benigno Aquino III by developing renewable energy projects. They said that by doing this it will encourage foreign manufacturing firms to invest in the country.

The DOE said that ever since the Renewable Energy Law was passed last 2008 they have signed about 205 renewable energy project contracts. These contracts are worth about P88 billion and are estimated to generate about 4400 MW of renewable energy for the grid. The department also said that they are looking into 382 RE project proposals that have been submitted to them for review and approval.
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A study for Smart Communications by Ericsson pointed out 25% in savings if the company uses Renewable Energy to power its cell sites. This in effect is a 50% savings in the company’s operating expenses as well as 60% of the total power consumption of the communications giant.

Switching to renewable energy means that the company is not contributing to green house gases because by taking off the energy demand they bring to the grid means that energy companies don’t have to burn that much fossil fuels in order to meet the demand.
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The recently formed Wind Energy Development Association of the Philippines (WEDAP) announced that together with the National Grid Corp. of the Philippines (NGCP) they would plan to establish transmission facilities in Northern Luzon with a capacity of 600 MW to supply the grid with wind power based energy.
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