Manila Bulletin
November 10, 2010, 5:22pm
MANILA, Philippines – The Philippines is endowed with an abundance of renewable energy resources. Rice, coconut, and sugarcane crops generate volumes of residues that can be utilized as fuel. Many parts of the country have great potential for harnessing wind energy. And its location just above the equator, it has abundant sunshine, which can be tapped for solar energy.
When Republic Act 9513, the Renewable Energy Act of 2008, was signed into law on December 16, 2008, Moody’s, a United States ratings agency, cited it as a big step in the right direction. The Renewable Energy Law provides the framework for the adoption of a strategic program to tap viable sources of renewable energy, with the Department of Energy taking the lead. Although clean energy is expensive to produce, governments and the public see it also a means to make profits and create jobs.
As early as 2007, energy projects initiated by the Philippines had attracted financiers, clean energy experts, and representatives of financial institutions all over the world. The energy we generate from geothermal and hydro resources has significantly reduced the country’s dependency on imported and polluting fuels. We have also begun solar, wind, and biomass energy programs.
The Philippines’ Renewable Energy Agenda was commended by the Asian Development Bank at a recent trade fair and conference held in Singapore. The ADB expressed optimism that the Philippines will be able to sustain the momentum in its development and promotion of renewable energy.
The Philippines is on track in its development of renewable energy. We have the needed resources and with the passage of the Renewable Energy Law, we have shown our commitment to join and even to take a leading role in this global initiative.
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