Manila Bulletin
By: Myrna M. Velasco
Published: March 5, 2013
Multilateral lenders International Finance Corporation (IFC) of the World Bank Group and the Asian Development Bank (ADB) are keenly interested to finance renewable energy (RE) projects that will be sited in Mindanao.
In a presentation, Mindanao Development Authority (MinDA) Director Romeo M. Montenegro has noted that these two lending firms already sounded off their support to the development of more RE-based power supply sources that will eventually balance the grid’s energy portfolio.
“There is no definite amount committed yet, but they told us that they are willing to fund RE developments,” he said. For technologies which no longer need the support of feed-in-tariff (FIT), the business case being studied by these multilateral firms is on solar rooftop installations.
Based on the collaborative planning undertaken by MinDA and the Department of Energy (DoE), the medium term investment blueprint set for RE in the region is at 37-percent share in the mix; while the fossil fuel-fired generation will eat up the chunk of 63-percent.
To accelerate the pace of RE developments in the area, Montenegro has indicated that a “one-stop shop” on licensing and permitting processes for projects will be established.
He explained that this will effectively reduce the number of permits to be secured from around 105 currently; and will likewise shorten the period of securing all the necessary government approvals.
Montenegro has emphasized that an “all-of-the-above strategy’ on power investments is needed in Mindanao, but they have to make sure that RE will not be left out in the portfolio build-up. It has been noted that the coal-fired plants being built will address the grid’s much-needed supply boost, especially for baseload capacity and will also plug load gap from the generation of the hydros which are cyclically affected by weather conditions.
Nevertheless, it was cast that the longer-term energy agenda for Mindanao must also aggressively incorporate RE-based capacities to balance the carbon footprints of the energy systems set for the grid.
Montenegro indicated that solar installations can already be scaled up in the grid even without the support of FIT or subsidies.
He stressed that technologies which can be sourced from China can now be installed at $1.8 million per megawatt which is relatively comparable or even cheaper than coal-fired power developments on a per-megawatt basis.
Apart from solar, the other RE technologies briskly pushed for Mindanao are run-of-river hydropower facilities, biomass and some wind capacities. source
In a presentation, Mindanao Development Authority (MinDA) Director Romeo M. Montenegro has noted that these two lending firms already sounded off their support to the development of more RE-based power supply sources that will eventually balance the grid’s energy portfolio.
“There is no definite amount committed yet, but they told us that they are willing to fund RE developments,” he said. For technologies which no longer need the support of feed-in-tariff (FIT), the business case being studied by these multilateral firms is on solar rooftop installations.
Based on the collaborative planning undertaken by MinDA and the Department of Energy (DoE), the medium term investment blueprint set for RE in the region is at 37-percent share in the mix; while the fossil fuel-fired generation will eat up the chunk of 63-percent.
To accelerate the pace of RE developments in the area, Montenegro has indicated that a “one-stop shop” on licensing and permitting processes for projects will be established.
He explained that this will effectively reduce the number of permits to be secured from around 105 currently; and will likewise shorten the period of securing all the necessary government approvals.
Montenegro has emphasized that an “all-of-the-above strategy’ on power investments is needed in Mindanao, but they have to make sure that RE will not be left out in the portfolio build-up. It has been noted that the coal-fired plants being built will address the grid’s much-needed supply boost, especially for baseload capacity and will also plug load gap from the generation of the hydros which are cyclically affected by weather conditions.
Nevertheless, it was cast that the longer-term energy agenda for Mindanao must also aggressively incorporate RE-based capacities to balance the carbon footprints of the energy systems set for the grid.
Montenegro indicated that solar installations can already be scaled up in the grid even without the support of FIT or subsidies.
He stressed that technologies which can be sourced from China can now be installed at $1.8 million per megawatt which is relatively comparable or even cheaper than coal-fired power developments on a per-megawatt basis.
Apart from solar, the other RE technologies briskly pushed for Mindanao are run-of-river hydropower facilities, biomass and some wind capacities. source
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