Wednesday, May 22, 2013

5 wind projects slug it out for FIT

Manila Bulletin 
By Myrna M. Velasco 
Published: May 22, 2013 
Five wind projects will have to slug each other out in the race to securing the feed-in-tariff (FIT) incentive for such technology in the allowable renewable energy (RE) installations.
This was disclosed to the media by Department of Energy Director Mario Marasigan, noting that after the issuance of the confirmation of commerciality (COC) to the first three projects, two more applications are under processed.
The total capacity of the proposed projects will reach 300 megawatts and that will technically surpass the 200-MW ceiling set for FIT-backed wind projects.
The first ones conferred with “commerciality confirmations” were the 87-megawatt wind facility of the Energy Development Corporation; 67.5-MW wind project of Alternergy Wind One Corporation; and the 54-MW San Lorenzo wind project of Trans-Asia Oil and Energy Development Corporation.
Marasigan admitted that there will be “oversubscription for wind projects”; but he stressed that the 200MW ceiling for the FIT availments shall be observed.”
The revised policy of the energy department posits that any RE project reaching commercial commissioning first and of which capacity will still fit into the installation targets shall be endorsed to the Energy Regulatory Commission (ERC) for FIT availments.
For the five projects, the investments will reach between $600 million to $900 million, according to the energy official.
The targeted commercial operations of all proposed facilities will be 2014 to 2015. Construction phase, according to Marasigan, will stretch 18 months.
The DOE official similarly acknowledged that the scheme of financing latching on to “balance sheet recourse to the parent firms of project proponents” has somehow grown acceptable already to investors.   source

No comments:

Post a Comment