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NEWS FLASH
Wind projects win over foreign firms
Publicly listed PetroEnergy Resources Corp. has already signed
agreements with various foreign firms interested in proposed
wind power projects in Pangasinan and Aklan.
In February last year, PetroEnergy was able to install a
meteorological mast each in Aklan and Pangasinan to validate
whether the site can sustain the operation of a 30-MW wind power
plant. Wind data were digitally recorded and transmitted
electronically to its consultant in Copenhagen, a Danish
engineering firm it identified as COWI Inc.
“Data gathered thus far have been sufficiently encouraging,
prompting us to erect a second mast in Nabas to increase
confidence in our data and analysis,” the company said.
“It is expected that the National Renewable Energy Board will
determine feed-in-tariff rates before the end of the second
quarter of 2011 and the Energy Regulatory Commission approval
will come (thereafter),” PetroEnergy said.
With a feed-in-tariff rate, renewable energy developers are
assured of future cash flows, as electricity end-users will be
charged fixed amounts to cover the production of energy from
renewable sources. With this in place, utilities can spread the
cost of clean power among customers.
Manila Bulletin, April 25, 2011
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6 wind farms seen to rise in Ilocos Norte
Ilocos Norte, a province in Northern Luzon bidding to be a haven
for renewable energy, sees six new wind farms rising in its
territory alongside potential mini-hydroelectric and solar power
projects.
Ilocos Norte Governor Imee Marcos told the Inquirer that the six
wind farms – which will add to the pioneering Bangui wind farm
operated by NorthWind Power Development Corporation – had
“pretty much financing in place. We’re very interested in being
the home of renewable energy,” Marcos said. “I think they can
build quite a lot. We have a great deal of land [that’s
unexplored].”
Philippine Daily Inquirer, April 25, 2011
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Ayala electronics subsidiary to expand energy operations
Ayala-led electronics manufacturing firm Integrated
Micro-Electronics Inc. plans to expand its renewable energy
business with the mass production starting this year of solar
modules and panels using prototypes created by its new energy
unit in Fremont, California.
Philippine Daily Inquirer, April 16, 2011
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Basic Energy kicks off pre-feasibility study on 20-MW geothermal
venture
Geothermal energy development is among those being pushed by
government given the country’s vast potential on the resource –
that, when maximized may even place the country in the top rank,
dislodging the United States which currently holds the record.
Manila Bulletin, March 29, 2011
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DoE prepares renewable energy market
The Energy Department is taking steps to put up the country’s
first Renewable Energy (RE) market which will be a venue for
issuance, trading and monitoring of RE certificates to comply
with the Renewable Portfolio Standard (RPS).
Under the proposed RPS rules, there would be priority
connections to the grid for electricity generated from emerging
RE Resources such as wind, solar, ocean, run-of-river hydropower
and biomass power plants within the territory of the
Philippines.
Manila Bulletin, February 22, 2011
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IFC to guarantee up to 50% of BDO loans
The International Finance Corporation (IFC), a member of the
World Bank Group, and Banco de Oro Unibank Inc. signed a
risk-sharing facility that aims to encourage private enterprises
in the Philippines to invest in sustainable-energy projects and
become more profitable, while addressing climate change.
IFC will guarantee up to 50 percent of Banco de Oro Unibank’s
loans for energy-efficiency and renewable-energy projects
through the bank’s Sustainable Energy Finance program. The
program shows that clean energy combined with energy-efficiency
solutions can help companies improve profitability and at the
same time help lower greenhouse-gas emissions.
Manila Bulletin, December 25, 2010
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Manufacturing sector posts 18% annual growth in May
Preliminary results of the monthly integrated survey of selected
industries (MISSI) conducted by the National Statistics Office (NSO)
revealed that 16 out of 20 major sectors exhibited increases in
production values with petroleum products contributing the
largest increase of 75.2 percent.
Ten other major sectors that posted two-digit increases included
electrical machinery and transport equipment.
Manila Bulletin, August 7, 2010
US grants P16-M support for hydropower expansion
In order to address the growing demand for electrical power in
the Philippines, the United States Trade and Development Agency
(USTDA) awarded a grant totaling over P16 million to First Gen
Mindanao Hydro Power Corporation (FGMHPC) to assess the
requirements needed to expand its hydroelectric power plant in
Northern Mindanao.
The USTDA grant will fund a feasibility study for a 14 to
20-megawatt run-of-river hydroelectric power plant in Cabadbaran,
Agusan del Norte.
The feasibility study is part of the US commitment to support
the Philippines in its efforts to develop renewable energy
sources and to increase electrification across the country.
It was learned that the annual power demand is growing at an
annual pace of 7.3 percent and the Department of Energy (DoE)
aims to have 10 percent of electricity production to come from
hydropower.
USTDA is also currently funding a technical assistance program
with the Philippines’ Rural Electrification Financing
Corporation.
Manila Bulletin, August 1, 2010
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Government plans to revive oil stockpiling program
As part of its long-term strategy for the downstream oil
industry, the Aquino administration is integrating into its
Energy Reform Agenda the propounded stockpiling program to
underpin energy security for the country.
That will supplement its proposed leaning into attracting more
refinery investments so the domestic oil market can better
shield itself from extreme volatilities on global prices as well
as on supply disruptions.
The energy department tapped its United States counterpart for
the initial stockpiling study.
To be viable, it was proposed that the stockpile should at least
be around 30 million barrels (MMB); or at least equal to 90-day
supply which is consistent with the prescribed level by the
International Energy Agency.
Of the proposed volume for strategic reserve, crude was
specified to be around 23.5 million barrels; diesel should be
around 5.0 million barrels and liquefied petroleum gas (LPG) by
1.5 million barrels.
It further justified that such reserve build-up is warranted
because crude oil is cheaper to acquire, store and transport;
and has no shelf life compared to refined products.
Manila Bulletin, August 1, 2010
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French firm sees teeming opportunities for energy
efficiency ventures in RP
French firm subsidiary Schneider Electric (Philippines) Inc.
sees the Philippines as a growth market in the provision of
solutions toward energy efficiency as well as for technology,
such as power supply back-up systems for businesses.
Schneider Electric country president Philippe Reveilhac, in an
interview, noted that there’s a lot of potential in the country
given the fact that industries and various business segments are
becoming increasingly conscious in trimming down their energy
costs as well as in ensuring reliability of supply, primarily
for the power-intensive and energy-sensitive manufacturing
industries.
Manila Bulletin, July 17, 2010
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Incentives for energy efficiency eyed
A proposed legislative agenda that will incentivize energy
efficiency initiatives and conservation measures for companies
secured much-needed boost with the promise of newly-elected
Senator Teofisto Guingona III for a sponsorship of the measure.
Energy efficiency and conservation are among the country’s
pressing needs to stretch power supply that have been getting
scant as growing demand gobbles it up.
Manila Bulletin, July 15, 2010
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French firm, JBIC eyed in co-financing scheme
A French investment firm and the Japan Bank for International
Cooperation (JBIC) are reportedly joining in the co-financing
arrangement for the $1.0 billion energy loan portfolio
propounded by the Asian Development Bank.
ADB principal energy specialist Sohail Hasnie admitted that
there are on-going talks on co-financing arrangements with these
entitites, but he qualified “there’s nothing final at this
point.”
The multinational lending firm said it has been exploring
funding opportunities for renewable energy and other ventures
revolving around clean energy solutions, including energy
efficiency initiatives.
It was gathered that the ADB is now looking at opportunities to
fund solar photovoltaic (PV) systems that would be pursued by
the Philippine National Oil Company – Renewables Corporation.
Apart from the proposed PNOC-RC venture, the Bank is similarly
exploring other solar development opportunities with other
prospective project sponsors.
The reported target will be to stimulate development of PV
systems that can yield up to 100 megawatts of capacity. For this
specific venture, the specially allotted Clean Tech Fund could
also be utilized as avenue for project financing.
Time frame of implementation, according to the ADB official,
must start next year. By then, financing shall already be lodged
before the Bank’s board for evaluation and hopefully, approval.
Manila Bulletin, July 6, 2010
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