The Department of Energy (DOE) has endorsed 29 power projects with over 1,500 megawatts (MW) in capacity.
Business News |
MANILA, Philippines — The Department of Energy (DOE) has endorsed 29 power projects with over 1,500 megawatts (MW) in capacity.
Of the 29 endorsed projects, there are 15 renewable energy plants, 10 diesel-fired plants, three power barges and only one coal-fired plant, data from the DOE showed.
The biggest of the lot is the 1,000-MW coal-fired power plant of Orion Pacific Prime Energy Inc. located in Barangas Awasan, Tagkawayan, Quezon.
Under the renewable energy projects, seven are solar projects, five are hydropower projects and three are biomass projects.
These included the 100-MW solar farm in Tanauan, Batangas of Solar Philippines Tanauan Corp., 50-MW solar plant in San Miguel, Bulacan of Power Source First Bulacan Solar Inc. and the 100-MW solar farm in Concepcion, Tarlac of Solar Philippines Tarlac Corp. (SPTC).
Solar Philippines Tanauan and Power Source have struck a deal to supply Manila Electric Co. with 50 MW each and are awaiting the approval of the Energy Regulatory Commission (ERC) on the power supply agreements (PSAs). The supply will be sold at P4.69 per kilowatt-hour (kwh) and at P5.39 per kwh, respectively.
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Meanwhile, Solar Philippines Tarlac will provide the power distributor with 85-MW supply at a rate of P2.9999 per kwh starting 2018.
The COE is a requirement for the issuance of Certificate of Compliance (COC) by the Energy Regulatory Commission (ERC), which is necessary before any generation company can commence commercial operations.
The COC has a term of five years during which period the generators are required to comply with the terms and conditions set forth in the ERC’s guidelines on the issuance of certificate of compliance for generation companies/facilities that include reportorial, technical and financial requirements.