Nearly 7,000 developments have been committed to the local energy sector this yearspingold, with clean power projects dominating the arena, government data showed.
Most of these projects—5,754 of them—will be built in Luzon. There are 3,923 planned renewable energy facilities, with solar remaining the most favored technology at 3,060.
Wind parks that will rise in Luzon come second at 759, while geothermal projects count at 68. There are also 35 hydropower projects and one biomass project.
Article continues after this advertisementREAD: PH’s renewable energy trading goes full blast on December 26
FEATURED STORIES BUSINESS BIZ BUZZ: Antonios go to Washington BUSINESS MVP Group inks 25-year Camp John Hay lease, BCDA’s first BUSINESS LRT 2 extension gathers steam with P2-B fundingAside from clean energy sources, the Department of Energy (DOE) said that as of end-November, committed developments involving natural gas- and oil-fired power plants have so far hit 1,320 and 11, respectively.
Among the main islands, only Luzon has committed power projects covering coal facilities—500 of them.
Article continues after this advertisementTo recall, the DOE imposed a ban on new coal facilities to cut carbon emissions and support the government’s push to shift to clean energy.
Article continues after this advertisementLast July, the DOE clarified that there was no total ban on developing coal-fired power plants in the country. Existing and operational facilities that have made commitments for expansion can still pursue these projects.
Article continues after this advertisementIn the Visayas, there are nine oil-based projects. Committed renewable energy projects reached 846, of which 742 are solar parks.
This was after a lawmaker called for better deployment of renewables in the market.
In a statement on Friday, the DOTr said it had inked a transaction advisory service agreement with the World Bank Group unit to lay out the airport project’s terms of reference (TOR).
Mindanao saw the lowest committed power projects at 232—176 came from renewable energy while the remaining 56 are oil-based developments.
Article continues after this advertisementThe government also noted that it received commitments for the establishment of battery energy storage systems (BESS), which numbered at 230.
IntermittentIndustry players worldwide, particularly those involved in renewable sources, have been investing in BESS given the intermittent power generation of clean energy sources.
These committed projects are seen to boost the country’s grid system, especially with the expected rise in electricity demand this year.
According to Energy Secretary Raphael Lotilla, power demand may go up by 5.4 percent to 14,769 megawatts (MW) in Luzon, 16 percent to 3,111 MW in the Visayas and 8.2 percent to 2,789 MW in Mindanao.
Subscribe to our daily newsletter
free online casino no deposit“It’s important to stress that we are in a much better situation this year than we were compared to last yearspingold, precisely because we have a number of projects that have come online, not only in terms of new generation capacity but particularly in terms of the transmission lines that are vital to bringing the supply to the market,” he said.
READ NEXT BIZ BUZZ: Antonios go to Washington D&L bullish on 2025 prospects amid lower inflation EDITORS' PICK PBA: Ginebra surges in 2nd half to shut down Blackwater Alexie Mae Brooks relinquishes Miss Iloilo title to pageant veteran 9⁰C-level temperature seen for Baguio, upland Luzon in February More villages affected by floods in Bicol Tolentino backs INC peace rally Fil-Ams grapple with devastating LA fires: ‘It’s like an apocalypse’ MOST READ 'Pepsi Paloma' script handed by emissary to Vic Sotto's 'sibling who's a senator' Tolentino backs INC peace rally UAAP: Casiey Dongallo, Jelai Gajero leave UE, transfer to UP BIZ BUZZ: Antonios go to Washington Follow @FMangosingINQ on Twitter --> View commentsPowered by winph-winph game-Winph Casino RSS Map HTML Map
Powered by365站群