The estimated value of proposed energy projects of national significance (EPNS) has gone up to Php795.52 billion, or Php113.58 higher than the Php681.94 billion posted as of July 2020, based on new figures from the Department of Energy (DOE).
The said amount accounts for the 149 projects that the DOE certified as EPNS ventures. A total of 399 applications were received by the department.
In addition, the DOE is currently evaluating 35 new project applications that hope to qualify as EPNSs under Executive Order No. 30, signed by Pres. Rodrigo Duterte in 2017. No details were given about the 35 pending applications.
Meanwhile, 76 applications were returned, notified of non-compliance to form, or lack documentary requirements; while it has denied the applications of 139 proponents.
The DOE suspended the granting of EPNS certifications last December, so it can evaluate the current process of granting the approvals. Before the suspension, four companies were given the green light to proceed with the construction of their respective liquefied natural gas facilities.
Earlier this month, the DOE-led Energy Investment Coordinating Council issued an advisory to concerned industry stakeholders fleshing out minimum capacity requirements that EPNS projects should comply within their power plant installations or the size of capital required in their energy resource exploration ventures.
Many EPNS-qualified projects are big-ticket investments in power generation, power distribution, oil and gas exploration activities, and transmission, which include the National Grid Corporation of the Philippines’ Mindanao-Visayas Interconnection Project.