JAPANESE GOVT KEEN ON FUNDING RP RENEWABLE ENERGY

MANILA, March 12, 2006
 (BULLETIN) By MYRNA M. VELASCO - The Ministry of Economy, Trade and Industry (METI) of Japanese government is keen on helping the Philippine government to source funding, including that from the Japan Bank for International Cooperation (JBIC), for planned renewable energy projects.

It was gathered that METI has invited National Transmission Corporation (TransCo) president Alan T. Ortiz to present template of the planned development of renewable energy resources being set forth by the government.

"They want us to present how we plan to implement our renewable energy program because they are interested even on the financing aspect, JBIC primarily," he noted.

Under the proposed Renewable Energy Act of 2006, it has been proposed that an inter-agency body shall be created to focus on enticing investments for renewable energy.

The membership will comprise of the heads of various agencies and to be headed by the Energy Secretary.

Those in the roll are representatives of the Departments of Trade and Industry (DTI), Finance (DoF), Environment and Natural Resources (DENR), National Power Corporation (NPC), National Transmission Corporation (TransCo), Philippine Electricity Market Corporation, renewable energy developers, government financial institutions (GFIs) and non-governmental organizations.

While the measure to govern renewable energy investments is still undergoing deliberations, the Department of Energy (DoE) is already pushing forward for the solicitation of offers for wind farm projects.

Listed prospects are those in Carmen and Oslob, Cebu sites to be developed by Transnational Diversified Corporation, Asia One Power Corporation and Cammon Windsolar Energy, Inc.; Bago City and Cauayan, Negros Occidental by FirstGen Renewables, Inc.; AilenLavasares and Calbayog in Northern, Samat by Benguet Corporation; Siquijor site by Asia One Power Corporation; Pasuquin, Ilocos Norte by Transnational Diversified Corporation; Bantay, Ilocos Sur by the Philippine National Oil Company-Energy Development Corporation; Bani and Bolinao, Pangasinan by Nation Petroleum Corporation; Maconacon, Isabela and Tagaytay, Cavite by Transnational Diversified Corporation; San Andres, Quezon by Nation Petroleum Corporation; Mercedes, Camarines Norte by Trans-Asia Renewable Energy Corporation and Daet, Camarines Norte by Coastal Power Development Corporation.

The others are those in Abra de Ilog; Pagudpud, Ilocos Norte; Malay, Aklan and Nuventa, Surigao del Sur by PNOC-EDC; Carranglan, Nueva Ecija by Coastal Power; Lamon Bay in Mauban, Quezon by Pacific Manufacturing Resources; Caliraya, Laguna by CEO Incorporated and Nation Petroleum; Pandan, Antique by First Gen Renewables; and San Remigio, Antique by Transnational Diversified Corporation.

Some pre-commercial contracts (PCC) are also currently being negotiated; subject to finalization of detailed engineering design and identification of the scheme of development; which is similar to a higher level of feasibility study.

It remains a target for the energy department to install about 425 megawatts of wind-based power projects in the next 10 years; though realizing that getting there would entail dealing with some hurdles.

There are a lot of issues and concerns yet to be resolved for all of the targeted projects; including financing, connectivity to the grid; and delivery mechanism for generated electricity.


Chief News Editor: Sol Jose Vanzi

© Copyright, 2006  by PHILIPPINE HEADLINE NEWS ONLINE
All rights reserved


PHILIPPINE HEADLINE NEWS ONLINE [PHNO] WEBSITE