The Department of Energy (DOE) is working on renewable energy-related policies for implementation before the new administration begins, outgoing secretary Zenaida Monsada said.
Monsada said they are currently working on their portfolio,with most recommendations made under the power sector.
“Priority would be RPS (Renewable Energy Portfolio), the RE market circular and FIT-3. Of course, the energy development plans, hopefully we can come out with our version before we step down.”
The government has been advised to keep the momentum in rolling out RE projects under the Feed-in-Tariff (FIT).
Speaking during the Nordic Business Council Philippines (NBCP) Renewable Energy Seminar on June 13, Alternergy Philippine Holdings Corp. executive vice president and COO Knud Hedeager said the incoming administration needs to come up with a long-term plan that involves RE.
“Everything will come to a screeching halt if you don’t make an intermediate plan, through bidding or other mechanisms. But it’s going to take one to two years for the new administration [to do],” Hedeager said.
Local banks are currently offering more assistance to RE projects by doling out more financing options to developers.
“We follow the cue from the developer. As of now, developers are dabbling into RE,” BDO Unibank senior executive vice president Walter Qassmer said.
BDO has provided over P33-billion to fund RE projects throughout the country like hydro, solar, wind, geo, and biomass. However, majority of investments still lie in coal-fired plants.