by Myrna Velasco July
20, 2016
The National Renewable
Energy Board (NREB) has proposed new feed-in-tariff (FIT) rates that will
account for the third round of installations for wind and solar farm
developments.
According to NREB
chairman Pete Maniego Jr., the proposed third round of FIT rate for solar would
be at P7.66 per kilowatt-hour (kWh), down from the recent P8,69 per kWh.
The targeted additional
installations for solar technology will be 500 megawatts, but that will already
include the excess of 300MW from the second wave race of development.
For wind, the
propounded next FIT rate will be at P6.97 per kWh, also reduced from the most
recent FIT charge of P7.40 per kWh. It will also cover additional 500MW of
installations.
Maniego said their
endorsement was still with the past administration, but has also been endorsed
to the present one – and it will already be up to them to decide on it.
For both wind and solar
technologies, investors have been on aggressive capital outlay and the next
rounds are already on the bag so long as the government lays down its verdict
on the next FIT rates.
On the other
technologies, he stressed that there had been no need for FIT reduction yet
because their installation caps have not been filled up.
For biomass, in
particular, Maniego noted that investors are still hurdled with feedstock
sustainability concerns; while for hydro, the major issue is with securing
permits.
Since the commercial
developments of RE in the Philippines underpinned by the Renewable Energy Act,
the outgoing NREB chair has emphasized that the sector already cornered US$4.9
billion worth of investments.
The anticipated
addition of 1,000 megawatts for solar and wind technologies will jack up the
share of emerging RE in the country’s power mix from more than 3.0-percent
currently.
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