BY Maria Romero | The Daily Tribune
The Department of Energy (DoE) said it has started accepting bids for 22 predetermined areas for potential geothermal and hydropower resources to accelerate the country’s renewable energy (RE) development.
In its 3rd Open and Competitive Selection Process (OCSP), the DoE bared 17 predetermined areas for hydropower projects and five potential sites for geothermal energy development.
According to the DoE, these predetermined areas have potential capacity to generate 150 megawatts (MW) of RE.
During the third OCSP kick-off, DoE Undersecretary Emmanuel Juaneza said the department continues to encourage and promote the exploration, development and utilization of RE.
In October 2020, DoE Secretary Alfonso Cusi declared a moratorium on endorsing greenfield coal power projects.
According to him, the new policy will maneuver the country to shift to a new, cleaner and indigenous source of power.
In a related development, Meralco Powergen Corporation (MGen), through its renewable energy arm MGen Renewable Energy Inc. (MGreen), has raised its stake in its first solar power project for P158 million.
MGen on Thursday said its total stake in Powersource First Bulacan Solar Inc. (PFBSI) is now at 60 percent after successfully acquiring an additional 20 percent equity.
The acquisition augments the attributable and net sellable capacity of MGreen.
PFBSI will sell energy to MGen under an approved power supply agreement (PSA).
MGen president and CEO Rogelio Singson bared that the P4.25 billion project, which has a capacity of 50 megawatts on a 72-hectare land, is expected to begin commercial operations in the first quarter of this year.
The construction of the project began in late 2019 and was supposed to start operation by end of 2020, but was delayed due the pandemic.