Wednesday, March 31, 2021

DoE updates power roadmap

Published 10 hours ago on March 31, 2021 02:30 AM
https://tribune.net.ph/index.php/2021/03/31/doe-updates-power-roadmap/?utm_source=rss&utm_medium=rss&utm_campaign=doe-updates-power-roadmap

The Department of Energy (DoE) has mapped out key strategies to fully implement the Philippine Energy Plan (PEP) to strengthen the power sector.

Undersecretary Felix William Fuentebella on Tuesday reiterated that PEP’s business-as-usual (BAU) scenario, combined with initiatives on energy efficiency, renewable energy, and resiliency, will help the country reach its aspiration of a clean energy future.

As the DoE moves towards the formulation of the PEP 2020-2040, Fuentebella pointed out that the updated plan will recognize the climate-land-energy-water nexus alongside the United Nation’s Sustainable Development Goals (SDG).

Meralco sees hike in electricity rates in April

By: Ronnel W. Domingo - 04:05 AM March 31, 2021
https://business.inquirer.net/320476/meralco-sees-hike-in-electricity-rates-in-april

Consumers are expected to pay more for electricity in April due to rising demand and increasing spot market prices amid summer heat, according to Manila Electric Co. (Meralco).

The power distribution giant said in a statement that peak demand in Luzon increased by more than 900 megawatts (MW) in March due to warmer temperatures and as power plants with generating capacities totaling at least 3,400 MW continued to be offline.

“Based on early, initial projections, there may be higher generation charge for the month of April 2021 due to observed increase in WESM (wholesale electricity spot market) prices,” Meralco vice president Joe Zaldarriaga said.

Zaldarriaga said the average spot price for the Luzon grid had reached the P8-P9 per kilowatt-hour (kWh) range in the first two weeks of March.

He said this was about treble the P3 per kWh daily average that was recorded for the entire month of February.

“But do note that March 2021 marks the second straight month of downward adjustment for power rates as the overall rate for a typical household decreased by [35.98 centavos] per kWh,” he said.

“This is equivalent to a decrease of around P72 in the total bill of residential customers consuming 200 kWh,” he added.

Electricity consumption among households is expected to increase in the summer months by 10 percent to 40 percent compared to the levels in the cooler months of January and February.

Earlier this week, following the announcement of a weeklong implementation of the strictest community quarantine measures, Meralco announced it was immediately suspending all disconnection activities until April 15.

“We hope this measure will contribute to easing the burden of our customers and provide enough relief and time for them to settle their bills,” Meralco chief commercial officer Ferdinand Geluz said.

Also, Meralco intends to continue vital operations such as meter reading as ordered by the Energy Regulatory Commission.

“Meralco’s business operations, including meter reading activities, will continue despite the stricter quarantine measures,” Geluz said.

“Rest assured there will be strict implementation of health protocols in order to safeguard the health and safety of both customers and our personnel,” he said. “This will ensure that actual consumption for the month will be billed accordingly.” INQ

SNAP hits a snag with Alimit hydro project

 

By Jordeene B. Lagare March 31, 2021

https://www.manilatimes.net/2021/03/31/business/companies/snap-hits-a-snag-with-alimit-hydro-project/857781/

 

CERTAIN obstacles have prompted SN Aboitiz Power Group (SNAP) to take a step back and recalibrate its plans on developing the Alimit hydropower complex in Ifugao, a company official said.

Still, SNAP — the joint venture of Norway-based Scatec Solar and Aboitiz Power Corp. — is keen on pursuing the hydropower facility with a potential capacity of 390 megawatts (MW).

“Actually, we’ve held back on [the] Alimit [hydro facility] given we have issues with the permitting,” said Emmanuel Rubio, AboitizPower president and chief executive officer, adding, “Maybe it’s time to reevaluate our position with Alimit.”

Rubio told reporters the company is also reevaluating the route for the transmission line to the grid.

“We have an SIS (system impact study), there were suggestions by [the] NGCP (National Grid Corp. of the Philippines) on where to connect and it requires certain reconductory of Magat-Santiago line,” he said.

SIS is one of the requirements a project proponent needs to secure before commencing the construction of a power plant.

“That’s where it is. We have not stopped. That’s the official word, that we are actually reevaluating given the situation that we have some permitting issues with the IPs (Indigenous Peoples) and the connection point that we have to finalize with the NGCP,” he added.

Rubio hinted at talks with concerned government agencies, including the National Irrigation Administration (NIA), noting the Alimit hydropower complex could help alleviate flooding in Northern Luzon.

“Remember the issue on Cagayan flooding? I think there has been discussion already with [the] NIA and certain government agencies,” he said.

“Alimit would probably be able to at least alleviate to a certain level flooding in Northern Luzon because it can trap certain amounts of water, not totally. It will not prevent flooding, but at least it would help alleviate flooding and that’s the new track we’re evaluating with the government,” Rubio explained.

The planned hydropower complex project consists of the 120-MW Alimit hydropower plant, the 250-MW Alimit pumped storage facility (which is currently on hold due to market constraints) and the 20-MW Olilicon hydropower plant.

The Energy Investment Coordinating Council, headed by the Department of Energy, declared the Alimit hydro complex as an energy of national significance.

Vivant, partners set to complete EU-funded off-grid solar projects

Danessa Rivera (The Philippine Star) - March 31, 2021 - 12:00am
https://www.philstar.com/business/2021/03/31/2088104/vivant-partners-set-complete-eu-funded-grid-solar-projects

MANILA, Philippines — Vivant Corp. and its partners are looking to complete all the solar energization activities of the European Union-funded Project Renewable Energy for Livelihood and Youth (RELY) by June this year.

Vivant, through Vivant Foundation Inc., is implementing all the solar energization activities of Project RELY in Cebu, Bohol and Palawan.

Project RELY is one of the seven awardees under the EU-Access to Sustainable Energy Programme (ASEP). It received a P120-million funding from the EU, as well as additional financing from the Federal Government of Germany. ASEP is a joint project of the Department of Energy and the EU that aims to assist the Philippines in expanding its sustainable energy generation to meet the growing needs of its economy and provide energy access to the poor and marginalized sector.

RELY aims to promote use of renewable energy to improve lives and foster climate change mitigation in poor and remote communities by energizing 16 off-grid public schools in Cebu, Bohol and Palawan.

The approach combines solar electrification with community development and improved vocational education by collaborating with five partner senior high schools located closest to the off-grid schools.

“Work is ongoing for the energization of two more off-grid schools in Cebu (the islands of Moamboc and Mambacayao in Bantayan, Cebu). Completion is expected to be end of this month or early April,” Vivant said in an e-mail.

“For the energization of six off-grid schools in Palawan, the target completion is end of June,” it said.

In November last year, Project RELY completed the energization through solar of six island schools in Bohol province with Vivant Foundation and PROCESS-Bohol as implementing partners.

Earlier this month, solar energization projects were turned over at Carnaza Elementary School and at Carnaza National High School, located on an island off Daanbantayan in Cebu.

Under the project, Carnaza Elementary School is being powered by a photovoltaic (PV) system that has the capacity to generate 21,120 watts-peak (Wp) of electricity. The system includes 64 PV modules, inverters and batteries. Carnaza National High School, located on the other side of Carnaza Island, has an installation with a similar generation capacity.

The installation of solar panels for two other schools in northern Cebu will start soon while work on the solar energization of six schools in Palawan will begin once all four identified off-grid schools in Cebu have been energized through solar.

“The partnership with the senior high school is necessary to ensure the sustainability of the solar energization component. EIM (electrical installation and maintenance) students who are now getting instruction on solar technology will be the one conducting the maintenance of the solar installation at the off-grid school,” Vivant Foundation executive director Shem Jose Garcia.

“This component of the project also aims to provide our youth opportunities in the future of energy,” he said.

DoE soliciting comment on draft incentive eligibility rules

March 30, 2021 | 8:14 pm
https://www.bworldonline.com/doe-soliciting-comment-on-draft-incentive-eligibility-rules/

THE DEPARTMENT of Energy (DoE) is soliciting for comment a draft circular outlining how energy efficiency (EE) projects will be endorsed to the Board of Investments (BoI) for fiscal incentives.

In a notice on its website, the DoE asked interested parties to e-mail their comments and suggestions to the Energy Utilization Management Bureau (EUMB) by April 7.

The draft defines EE projects eligible for BoI registration, and classify EE projects by complexity. The draft also details the application process and criteria for evaluating EE projects interested in applying for fiscal incentives.

In the draft, the DoE said that an EE project must be able to meet the minimum 15% “project boundary” and involve an investment of at least P10 million. Based on the proposed guidelines, a project boundary refers to the “percentage range of energy savings to avail of an income tax holiday (ITH).”

Those with a project boundary of under 15% will not be entitled to an ITH, but their registration will not be cancelled.

The department also proposes to classify EE projects as either simple or complex. Simple EE projects are those that involve new installations, upgrading or retrofitting of equipment or devices. Meanwhile, complex EE projects are the ones that require installing, upgrading or retrofitting a system or a combination of systems.

In its draft, the DoE sets a minimum of eight required documents for submission by applicants.

It added that the EUMB’s Energy Efficiency and Conservation Program Management and Technology Promotion Division will conduct the technical evaluation, and determine whether the project is simple or complex.

“The evaluation process including the issuance of certificate of endorsement to BoI shall be completed within 20 working days from receipt of all required documents,” the DoE said in its proposed guidelines.

A copy of the draft guidelines and call for comments can be found on the DoE’s website.

According to the 2019 implementing rules and regulations of the Energy Efficiency and Conservation Act, energy efficiency projects that wish to avail of fiscal incentives must first be certified by the DoE and registered with the BoI. — Angelica Y. Yang

DOE Meets with the Energy Family on the Implementation of the Philippine Energy Plan (PEP) 2018-2040

March 30, 2021
https://www.ptvnews.ph/doe-meets-with-the-energy-family-on-the-implementation-of-the-philippine-energy-plan-pep-2018-2040/

TAGUIG CITY – The Department of Energy (DOE), through its Energy Policy and Planning Bureau, convened a planning conference with its attached agencies (AAs) on 25-26 March 2021. The conference gathered together the corporate planning managers and other officials from the Philippine National Oil Company (PNOC) and its subsidiaries (PNOC-Exploration Corporation and PNOC-Renewable Corporation), National Power Corporation (NPC), National Electrification Administration (NEA), National Transmission Corporation (TransCo), and the Power Sector Assets and Liabilities Management (PSALM) Corporation.

DOE Undersecretary Felix William B. Fuentebella described the activity as a “time of reflection, to be better as a team,” and to practice synergy in more ways to achieve the objectives and targets of the PEP. In his Opening Remarks, Undersecretary Fuentebella noted that the PEP’s business-as-usual (BAU) scenario, combined with initiatives on energy efficiency, renewable energy, and resiliency, will help the country reach its aspiration of a clean energy future. He also emphasized the importance in energy planning the mapping out of energy flow from primary fuel to end-use of the demand sectors.

The AAs presented their programs and projects that are anchored on the PEP targets, priorities and sectoral roadmaps, including updates on specific projects or initiatives relative thereto, potential gaps or issues in programs and projects’ implementation, and assistance they need from DOE.

Some of the energy portfolios mentioned by the AAs were:
· Strategic Petroleum Reserve and Fuel Relief Program;
· Energy Supply Base Port;
· Exploration of oil/gas reserves;
· Clean energy projects (renewable and energy efficiency);
· Enhanced Missionary Electrification;
· 24/7 Operations of NPC-SPUG plants;
Watershed Management;
· Interconnection Master Plan of off-grid areas
· Rationalization of tariffs/phase-out of Universal Charge-Missionary Electrification Subsidy in Missionary Areas;
· Sitio Electrification Program (SEP) and Strategized SEP (off-grid);
· Strategized Household Electrification Program (off-grid);
· Barangay Line Enhancement Program (BLEP);
· Quick Respond Fund and the Electric Cooperative Emergency Resiliency Fund; and
· Agus-Pulangi Complex Rehabilitation, among others.

These programs and projects are to be duly approved by the AAs’ respective Boards before the formal submission to the DOE. Moreover, the Presidents of the AAs were asked to present to Secretary Alfonso G. Cusi the submitted programs and projects in the scheduled high level planning conference.

DOE Undersecretary Alexander S. Lopez likewise advised the AAs to show how their initiatives reinforce and address development plans of the government in identified priority areas. He also mentioned the need to establish a security office that shall focus and help ensure the protection and security of the whole energy value chain from natural and man-made security threats.

As the DOE moves towards the formulation of the PEP 2020-2040, Undersecretary Fuentebella concluded that the updated plan will recognize the climate-land- energy-water nexus alongside the United Nation’s Sustainable Development Goals (SDGs). The plan will aggregate the contributions of all the AAs to strengthen the country’s position in the use of clean, affordable, and sustainable energy for the years to come. (Press Release)

Oil firms roll back fuel pump prices

By Lenie Lectura March 30, 2021
https://businessmirror.com.ph/2021/03/30/oil-firms-roll-back-fuel-pump-prices-2/

Local pump prices will be reduced by over P1 per liter this week.

Oil firms announced Monday that gasoline prices will go down by P1.20 per liter, kerosene by P1.40 per liter and diesel by P1.30 per liter.

The price adjustment takes effect at 6 a.m. on Tuesday, March 30.

The price cuts will be implemented by Pilipinas Shell, Phoenix Petroleum Cleanfuel, Seaoil, Unioil, Total Philippines and Caltex Philippines.

Other oil firms are expected to announce similar adjustments soon.

They adjust their pump prices every week to reflect movements in the world oil market.

Earlier, the Department of Energy (DOE) released the country’s net oil import bill in 2020, which dropped 46.4 percent to $5.932 billion from $11 billion in 2019.

Total volume of petroleum products imported last year reached 136.05 billion liters, 21.4 percent down from 173.2 billion liters in 2019. The Philippines imported 32.9 billion liters of crude and 103.1 billion liters of finished products in 2020.

As a result, the cost of total imports declined 46.2 percent to $6.372 billion from $11.839 billion in 2019.

Total export earnings also dropped 42.5 percent to 10,435 million liters equivalent to $439.4 million in 2020 from 12,669 million liters in 2019 worth $763.6 million. Of the total petroleum exports last year, 7.9 billion liters were products and 2.5 billion liters in crude.

Meralco rates likely to rise in April billing

Published March 30, 2021, 5:15 PM by Myrna M. Velasco
https://mb.com.ph/2021/03/30/meralco-rates-likely-to-rise-in-april-billing/

As weather temperature rises, so as the electric bills that consumers will be paying with initial estimates that the rates of giant power utility firm Manila Electric Company (Meralco) will be going up in April billing.

According to Meralco Vice President and Spokesperson Joe Zaldarriaga, “based on early initial projections, there may be higher generation charge for the month of April 2021 due to observed increase in WESM (Wholesale Electricity Spot Market) prices.”

He qualified that peak demand in Luzon grid “increased by more than 900 megawatts in March due to warmer temperature and large capacities on outage that persisted.”

Zaldarriaga narrated the daily load weighted average price (LWAP) had been reaching P8.00 per kilowatt hour (kWh) during the initial week of March; and had escalated even higher to P9.00 per kWh on the week of March 15th.

He explained that if it will be compared to the average LWAP of P3.00 per kWh in the February supply month, the disparity will be huge, hence, that could result in higher effective settlement prices to be reflected in this month’s billing cycle.

The generation charge is the biggest component in the overall power rates being passed on to consumers in their monthly electric bills – accounting for 55 to 60-percent of the total tariff.

Zaldarriaga said their customers’ March billing had also been comparatively coming from a low base, hence, there had been higher probability for the April rates to go up.

He noted that last month’s rate was the second downward adjustment implemented within this year — and that amounted to P0.3598 per kWh rate cut for a typical household end-user.

Given the scorching weather this summer season and with most people confined in their homes because of the Holy Week and the newly enforced enhanced community quarantine (ECQ) because of the rising cases of Covid-19 infections, consumers are being advised to efficiently use energy so they can also subsequently manage their bills when they become due.
The summer months are usually the peak demand period on power consumption, although higher usage shifted into the residential segment since last year because of the health crisis.

Meralco to extend ‘no service disconnection’ until mid-April

Published March 29, 2021, 1:53 PM by Myrna M. Velasco
https://mb.com.ph/2021/03/29/meralco-to-extend-no-service-disconnection-until-mid-april/

The customers of Manila Electric Company (Meralco) who will be locked up in their homes because of the re-imposition of enhanced community quarantine (ECQ) during the Holy Week will not need to worry about probable service cut-off, because the utility firm has extended its ‘no disconnection’ policy until mid-April this year.

In an announcement to the media, Meralco indicated that it is “immediately suspending all disconnection activities in its franchise area until April 15, 2021,” – and such service areas will cover Metro Manila, Rizal, Bulacan, Cavite, Laguna, Batangas, Pampanga and Quezon.

As stated by Meralco First Vice President and Chief Commercial Officer Ferdinand O. Geluz, the company was prompted on that decision following the government’s mandate on ECQ 2.0 in the so-called “NCR Plus Bubble”, in reference to Metro Manila and nearby provinces of Rizal, Bulacan, Laguna and Cavite which all logged escalating cases of Covid-19 infections.

“Cognizant of the plight of our customers amid these challenging times brought about by the pandemic and in support of the government’s effort to manage the transmission of Covid-19, we commit to put on hold all disconnection activities until April 15, 2021,” the Meralco executive stressed.

To note, the ‘no disconnection’ rule — primarily for consumers in the lifeline threshold of 100 kilowatt hours (kWhs) and below, as well as those end-users with arrears that piled up since last year’s ECQ and modified ECQ (MECQ) protocols — had been mandated by the Department of Energy (DOE) to be stretched until March 31 this year.

Nevertheless, given the imposition of new round of stricter quarantine measures, Meralco has taken upon itself to initiate the additional 15-day leeway on ‘no service cut-off’ for customers.

“We hope this measure will contribute to easing the burden of our customers and provide enough relief and time for them to settle their bills,” Geluz said.

The power firm executive emphasized that “Meralco will continue to be very considerate during these trying times and vowed to assist its customers in need of help in their electricity concerns.”

Beyond the extended ‘no disconnection’ recourse it set, Meralco similarly guaranteed that its operations won’t be interrupted, especially during the ECQ period.

Further, the utility firm advised that its meter readers will carry on with their activities so its customers will only be billed with the actual consumption – that way, the ‘estimated billing snafu’ last year can be avoided.

“Meralco business operations, including meter reading activities, will continue despite stricter quarantine measures…this will ensure that actual consumption for the month will be billed accordingly,” Geluz stressed; while emphasizing that the power company will adhere to “strict implementation of health protocols in order to safeguard the health and safety of both customers and our personnel.” (MMV)

Carbon tax is not good

March 29, 2021 | 6:04 pm By Bienvenido S. Oplas, Jr.
https://www.bworldonline.com/carbon-tax-is-not-good/

Early this year, some sectors resumed their carbon tax-pushing agenda, proposing higher energy prices for many financially struggling companies and households while favoring intermittent renewable energy (RE) like solar-wind. These five reports in BusinessWorld capture this development:

1. “Carbon taxes could sap PHL competitiveness, Energy department says” (March 10).

2. “DoE to endorse 75 RE plants for feed-in tariff program” (March 13).

3. “Environment dep’t agrees PHL not ready for carbon tax” (March 15).

4. “Regulator says power distributors need to tap more renewable energy to meet 2040 target” (March 25).

5. “Diokno warns of risks associated with transition away from coal power” (March 27).

Good news in reports number 1, 3, and 5, the leadership of the Department of Energy (DoE) and the Department of Environment and Natural Resources said that the Philippines is not ready for, that it is not advisable to impose, a carbon tax. And the Bangko Sentral ng Pilipinas Governor warned about the “financial risks that may come with plans to move away from coal energy.” Thank you, Secretaries Alfonso Cusi and Roy Cimatu, and Governor Ben Diokno.

Reports number 2 and 4 were bad news, especially the one about adding 23 new solar projects and six new wind projects, on top of many big solar and wind projects that are already entitled to high feed-in tariff (FiT) or guaranteed prices for 20 years. Then there is the National Renewable Energy Program (NREP) plan to push hard the renewable portfolio standards (RPS) by raising the RE quota from 1% to at least 2.5% per year, so that they will reach the target RE share of 37.3% of the total power mix by 2030, and 55.8% by 2040.

Solar and wind have the highest FiT rates. Until 2020, solar FiT was P10.12 to P11.28/kwh, and wind FiT was P8.59 to P9.90/kwh. Compare that with the recent winners of Meralco’s competitive selection process (CSP): three coal and gas plants at only P4-5/kwh. And if a battery is added plus standby gensets running on diesel or bunker fuel, the cost of solar and wind can jump to the ceiling.

Among the carbon tax pushers is the World Bank (WB). In its recent report “Uneven Recovery” (April 2021), among the proposals are “Going green without hurting growth or the poor… Policy options include: (i) phasing out fossil fuel and energy subsidies, (ii) adjusting carbon prices…” Lousy proposals.

If we look at how many countries have industrialized and modernized, among the important reasons is that they have used cheap, stable, reliable, fossil fuel energy.

I computed the average electricity generation from 1985 (earliest comparative data available) to 2000, then from 2001-2019 of 20 countries and compared them with their average GDP growth over the same period. Power data came from the BP Statistical Review of World Energy (BP-SRWE) 2020 and the DoE, while the GDP data came from the IMF World Economic Outlook (WEO) database 2020.

With few exceptions, countries that have retained a high coal share to total power generation — at least 30% — have also experienced fast growth: China, India, South Korea, Turkey, Poland, and Taiwan. And countries that significantly raised their coal share in 2001-2019 compared with their share from 1985 to 2000 also experienced fast growth: Indonesia, Malaysia, Vietnam, the Philippines.

Countries that reduced their coal share in 2001-2019 experienced slower growth — the US, Canada, Australia, Germany, the UK, Italy, and Spain. Countries in Table 1 are ranked based on their total generation in 2001-2019.

Meanwhile, power supply and demand data in the Luzon and Visayas grids show that in the first quarter (Q1) 2021 there has been a contraction or flat growth, while prices — both the customer effective spot settlement price (ESSP) and load-weighted average price (LWAP) — show continued depressed levels. Data for Table 2 comes from the Independent Electricity Market Operator of the Philippine.

Average demand in 2021 contracted -6.7% in January, -4.8% in February, and grew 1.5% in March.

With the imposition of a curfew then a stricter quarantine in late March, this modest growth may turn out to be another contraction.

Environmental protection can continue by directing attention at old industrial plants that pollute, but their ECCs were grandfathered from the 1950s and 1970s — they do not have to meet modern emissions standards. And they should look into polluting jeepneys, buses, and many government trucks.

Economic recovery, fast and sustained growth, requires cheap, stable, and predictable energy. If the Philippines will stop building new coal plants while China, India, the US, Australia, South Korea, Indonesia, etc. keep building new and bigger ones, the dreaded emission impact is the same but we will deny ourselves the opportunity of additional affordable and stable power.

DOE mulls force majeure on west Palawan SC 55

Danessa Rivera (The Philippine Star) - March 29, 2021 - 12:00am
https://www.philstar.com/business/2021/03/29/2087625/doe-mulls-force-majeure-west-palawan-sc-55

MANILA, Philippines — The Department of Energy (DOE) is evaluating a request to place Service Contract (SC) 55 offshore west Palawan under force majeure due to the adverse impact of the COVID-19 pandemic on the upstream industry.

The SC 55 consortium had filed a request with the DOE to declare a one-year force majeure on the said prospect in September last year.

In a recent filing, ACE Enexor Inc.—the listed oil and gas exploration and production unit of the Ayala Group—said the consortium made the request “in view of the far-reaching adverse effects of the COVID-19 pandemic and the induced low oil price on the global upstream petroleum industry.”

Palawan55 Exploration & Production Corp., SC 55’s operator with a 75 percent interest, is 75 percent owned by ACE Enexor and 25 percent owned by AC Energy Corp.

DOE assistant secretary Leonido Pulido said officials are close to completing evaluation process.

While awaiting the DOE’s decision, well planning and drilling preparations for SC 55 are ongoing.

ACE Enexor chairman Eric Francia earlier said the consortium was on track to commence drilling of an appraisal well in the first half of 2022, with targets to firm up its partner and finalize drilling plans within first half of this year.

Last year, Palawan55 made the commitment to drill one exploratory well within the first two years after the DOE confirmed SC 55’s entry into the appraisal period.

In April last year, the DOE confirmed that the “Hawkeye-1 well did encounter a significant volume of movable natural gas and is deemed to be a non-associated gas discovery under Section 13.02 of SC 55. Non-associated gas discovery means the reservoir contains only natural gas and no oil.

Three months later, the SC 55 consortium submitted to the DOE its five-year work program and budget for the appraisal period of $1.7 million.

The work program consists of a firm commitment in the first two years and a contingent commitment covering the latter three years.

The firm commitment consists of geological and geophysical studies and drilling of a well within the next two years.

SC 55 was estimated to have some 2.2 trillion cubic feet of gas, according to the DOE.

In particular, the Hawkeye well was believed to have an estimated 480 million barrels of oil identified on 2D seismic originally acquired by Otto in 2007 and further defined with the 600-km 3D seismic acquisition in late 2009.

AboitizPower aims for 50:50 balance of RE, thermal energy

 

https://malaya.com.ph/index.php/news_business/aboitizpower-aims-for-5050-balance-of-re-thermal-energy/

 

Aboitiz Power Corp. is aiming to hit a 50:50 balance of renewable energy (RE) and thermal portfolios by 2030 where it will have a total portfolio of over 9,000 megawatts (MW).

Emmanuel Rubio, Aboitiz Power president and chief executive officer, said in an online briefing last week the company over the next 10 years aims to double its current fleet size while selectively building baseload capacities with options of either coal and gas.

It will also continue pursuing projects abroad with focus on RE in high growth markets.

Aboitiz Power did not provide the capital expenditure for the plan.

Rubio said the primary focus on RE are on solar, wind and hydro.

Local projects include the recent completion of the commissioning of two wind met masts in Pangasinan to measure available wind resources. Meanwhile, a 50 MW solar project in Central Luzon is eyed to start construction within the second half of the year.

Rubio said the company has secured 815 MW RE service contracts in various phases of development

For RE projects abroad, AboitizPower is still focused on Vietnam and Indonesia and is reassessing its interest in Myanmar due to political instability in that country.

“(For international projects,) we’ll shift from just participating through equity and look at being an operator. It’s something that we’re considering as a business model but to date, we haven’t changed our approach. We will continue to look at projects that we acquire until we make a decision to shift with this model. It is something that’s being evaluated today,” Rubio said.

AboitizPower expects to have attributable capacities from foreign projects by 2023. – Jed Macapagal