Business World Online
Posted on July 11, 2011 09:14:47 PM
TEAM ENERGY Philippines Corp., the local joint venture between Marubeni Corp. and Tokyo Electric Power Co., plans to set up roughly 50 megawatts (MW) of renewable energy projects for $150 million starting next year, an official yesterday said.
This is to comply with the government’s required mix of alternative and traditional energy sources.
“We are looking at five potential mini-hydroelectricity sites at 5 MW each, also solar at about 10 MW each in Bulacan and Batangas and an 11-MW biomass facility in Quezon,” TeaM Energy President Federico E. Puno said in a press briefing.
The estimated cost range for the projects is $2.5 million to $3 million per MW, Mr. Puno said.
The company hopes to finish feasibility studies this year so it can start “at least some of them next year.”
TeaM Energy’s portfolio already includes the 1,200-MW Sual coal-fired power plant in Pangasinan and the 700-MW Pagbilao coal power plant in Quezon.
Mr. Puno said the plan to build its own renewable energy plants is to meet the needed mix required under the so-called renewable energy portfolio standards.
The renewable energy portfolio standard is a mechanism emanating from the Renewable Energy Act of 2008. The standard requires power generators to deliver a certain percentage of energy from renewable energy sources.
Mr. Puno noted the planned solar and biomass projects may not need to wait for the feed-in tariff to be implemented.
“We have an off-taker for the solar and biomass plants. Actually we’re looking at the feasibility [that we can build] even without the feed-in tariff since the delivery of power will be direct,” said Mr. Puno.
Feed-in tariff is a guaranteed payment provided to renewable energy investors through a universal charge.
He added however that the mini-hydro power plants will need the feed-in tariff rates to operate “because of plant factors like weather and water levels.”
The National Renewable Energy Board has already submitted its proposal to the Energy Regulatory Commission for the following feed-in tariffs: P7 per kilowatt-hour (kWh) for biomass, P6.15/kWh for run-of-river hydroelectricity, P10.37/kWh for wind power, P17.65/kWh for ocean technology and P17.95/kWh for solar. -- Emilia Narni J. David
“We are looking at five potential mini-hydroelectricity sites at 5 MW each, also solar at about 10 MW each in Bulacan and Batangas and an 11-MW biomass facility in Quezon,” TeaM Energy President Federico E. Puno said in a press briefing.
The estimated cost range for the projects is $2.5 million to $3 million per MW, Mr. Puno said.
The company hopes to finish feasibility studies this year so it can start “at least some of them next year.”
TeaM Energy’s portfolio already includes the 1,200-MW Sual coal-fired power plant in Pangasinan and the 700-MW Pagbilao coal power plant in Quezon.
Mr. Puno said the plan to build its own renewable energy plants is to meet the needed mix required under the so-called renewable energy portfolio standards.
The renewable energy portfolio standard is a mechanism emanating from the Renewable Energy Act of 2008. The standard requires power generators to deliver a certain percentage of energy from renewable energy sources.
Mr. Puno noted the planned solar and biomass projects may not need to wait for the feed-in tariff to be implemented.
“We have an off-taker for the solar and biomass plants. Actually we’re looking at the feasibility [that we can build] even without the feed-in tariff since the delivery of power will be direct,” said Mr. Puno.
Feed-in tariff is a guaranteed payment provided to renewable energy investors through a universal charge.
He added however that the mini-hydro power plants will need the feed-in tariff rates to operate “because of plant factors like weather and water levels.”
The National Renewable Energy Board has already submitted its proposal to the Energy Regulatory Commission for the following feed-in tariffs: P7 per kilowatt-hour (kWh) for biomass, P6.15/kWh for run-of-river hydroelectricity, P10.37/kWh for wind power, P17.65/kWh for ocean technology and P17.95/kWh for solar. -- Emilia Narni J. David
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