February 18, 2020 Read More →

Philippines wants auctions for 2 GW of renewables

PV Magazine:

The Philippines government plans to introduce a Green Energy Tariff Program auction regime this year which it hopes will allocate 2 GW of renewable energy generation capacity.

The proposed program has been put out to consultation with the authorities estimating it could generate $2 billion in clean energy investment.

Public tenders will feature a maximum price for the renewable electricity generated by tendered projects and the program will be administered by the Philippines Department of Energy, according to a report published by the Institute for Energy Economics and Financial Analysis (IEEFA). The research institute added, off-grid electrification projects will be included in the proposed tender system.

“Global capital could come from China’s Belt and Road initiative and clean energy funding programs initiated by the Asian Infrastructure Investment Bank and the Asian Development Bank,” the IEEFA report stated. “Philippine banks such as BDO Unibank Inc are also well positioned to take the lead in green financing.”

[Emiliano Bellini]

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