Author Topic: Renewable Energy Law of the Philippines  (Read 779 times)

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Renewable Energy Law of the Philippines
« on: July 24, 2009, 04:17:25 PM »
The newly-passed Renewable Energy Law "could open doors for the Philippines to capture part of more than USD 70 billion investments" in the field, British Ambassador Peter Beckingham said recently.

The ambassador said the Philippines could do this by "providing incentives to investors, equipment manufacturers and suppliers."

He also urged local government units (LGU) to push for alternative sources of energy for their constituents by opening their municipalities to investors in renewable technologies.

Beckingham said that by pushing the Renewable Energy Law, which supports the country's goal of 60 per cent energy self-sufficiency level by 2010, the Philippines has taken steps to tackle climate change.

It "could open doors for the country to capture part of more than USD70 billion investments in renewable energy development world-wide by providing incentives to investors, equipment manufacturers and suppliers."

Beckingham made the remarks at a renewable energy forum hosted by the World Wildlife Fund Philippines (WWF-P)in Cebu City.

Beckingham said that Britain has taken advantage of the demand for green projects, which opened major opportunities for British businesses to create jobs in the new low carbon economy. He noted that in the UK, this has grown into a three trillion-pound market employing nearly 900,000 people.

"The Philippines can do the same," Beckingham prodded.

The forum presented a unique venue to magnify the tremendous opportunities that the Philippines has, specifically local communities, in pursuing low-carbon and renewable energy options in providing power to our communities," according to WWF-P president, Lory Tan.

Adoption of these solutions shall foster sustainable development and contribute significantly in addressing climate change, according to Tan.

Tan expressed hope that local governments would embrace renewables and create a sustainable energy future for their communities and for the country.

The forum was funded by the British Embassy Manila.

It was attended by municipal mayors from across the nation and representatives of development agencies to build links between LGUs and local investors in coastal areas in exploring sustainable, low-carbon energy solutions.

Among local leaders who attended were Mayor Elmer Codilla of Kananga, Leyte, who related the economic benefits to his municipality of hosting geothermal plants.

Kananga plays host to a number of geothermal plants which fulfills 40 per cent of the power requirement in Luzon.

Between 1992 to 2008, Kananga has received in total over P200 million in Royalty Shares based on the gross receipts of the Energy Development Corporation (EDC, formerly PNOC-EDC). This does not include the millions in annual taxes from the operators.

"Such huge revenues and benefits enjoyed by the host LGU, has paved the way for the elevation of Kananga, Leyte into a first class municipality. Because of this, the (municipality) has embarked on various projects in education, health, agriculture, infrastructure and other priority programs with the use of proceeds from EDC," Codilla said.(PNA)

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