Pasig city: The Department of Energy (DOE) is intensifying its efforts in renewable energy (RE) development through collaboration with the Manila-based Asian Development Bank (ADB) and the National Electrification Administration (NEA) for a single window auction. This initiative aims to streamline the auction of available NEA facilities for RE development, offering comprehensive information and packages to interested parties. The details of this plan were discussed by DOE Assistant Secretary Mylene Capongcol during the 15th anniversary celebration of the Philippine Solar and Storage Energy Alliance (PSSEA) in Pasig City.
According to Philippines News Agency, Capongcol mentioned that they are awaiting a detailed proposal and policy framework from ADB, which will act as the transaction advisor. Once this is received, a memorandum of agreement with NEA is expected to be signed. Capongcol expressed optimism about the program, highlighting the Philippines' position as the second most attractive RE market globally.
The Philippine government aims to increase the share of RE in the country's energy mix to approximately 35 percent by 2035 and 50 percent by 2040. Currently, RE accounts for about 22 percent of the energy mix. Capongcol also noted that there are approximately 544 active solar projects across the nation, with a total installed capacity of around 2,425 megawatts (MW), derived from roof-mounted, ground-mounted, and floating solar-energy sources.
