By Lenie Lectura- February 14, 2020
ABOITIZ Power Corp. is gearing up to
expand its renewable-energy (RE) portfolio in the next 10 years.
AboitizPower President and Chief
Executive Officer Emmanuel Rubio said 65 percent of all new capacity will come
from RE as opportunities in the RE sector thrive with the
government’s Renewable Portfolio Standards (RPS) and Green Energy Option
Program (GEOP).
“We estimate that 65 percent of all
new capacity investments we will be making will be in renewables in the next 10
years because of opportunities in RPS and GEOP and investment overseas,” he
said.
RPS is a market-based policy that
requires electricity suppliers to source an agreed portion of their energy
supply from eligible RE resources.
The Green Energy Option Program,
meanwhile, is a mechanism providing end-users the option to choose RE Resources
as their source of energy.
The Renewable Energy Management
Bureau of the Department of Energy (DOE) is working tirelessly to put all RE
ahead of its conventional counterparts. The DOE is now implementing policies
such as RPS and GEOP to improve the market viability of RE resources.
Meanwhile, the Competitive Renewable Energy Zoning (CREZ) will resolve issues
on the zoning of RE projects.
Also, RA 11234 or the EVOSS Act and
ED 30 (Energy Projects of National Significance) help streamline the processing
of all relevant regulatory permits.
“We expect DOE will be strict in
compliance, resulting in a requirement for additional capacity by 2029 of just
a little less than 10,000 megawatts, assuming the capacity factor of that RE
technology that will be installed is around 18 percent,” Rubio said.
Rubio said AboitizPower will
participate and comply with the DOE’s programs and policies that will foster
RE.
“We are preparing to participate and
capture a piece of this market. We are also looking at RE opportunities in
South East Asia, particularly in Vietnam. All of these will
contribute to a shift in our portfolio by 2029, to a more
balanced RE to Thermal ratio,” he added.
Aside from Vietnam, Aboitiz Power is
also looking at Indonesia and Myanmar with focus on hydro and solar.
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