BBM meeting RE reps to achieve targets – DoE

PRESIDENT Ferdinand “Bongbong” Marcos Jr. has conducted meetings with various stakeholders and renewable energy developers, the Department of Energy (DoE) said on Friday.

At the Laging Handa Public Briefing, Energy Undersecretary Rowena Guevara said the Chief Executive — a staunch supporter of renewable energy — is exploring all options that can be made available for the Philippines.

“Ang mga meeting ng President ay sa iba’t ibang renewable energy (The President held meetings with various sectors on renewable energy),” she said.

Guevara said that among those discussed include the possibility of harnessing renewable energy from the wind, hydro, offshore wind and solar power.

“Dun sa mga meeting ng ating Presidente sa mga foreign investors, ang ating ine-emphasize ay 100-percent foreign ownerships ay pinapayagan na sa renewable projects in the Philippines (During the meeting of the President, it was emphasized to foreign investors of a 100-percent foreign ownership that is being allowed under renewable projects in the Philippines),” she said.

Guevara also said that the foreign investors can also “enjoy” renewable energy incentives such as a tax holiday for seven years, corporate tax of 10 percent and free importation for 10 years.

“Our President is encouraging full foreign ownership of renewable energy in the country,” she added.

The DoE said that they are targeting to have a 35 percent energy source from renewable energy by 2030, and go up further to 50 percent by the year 2040.

“With these developments and the strong push of the President, I think we can achieve that,” Guevara said.

Presently, the country has a 22.8-percent renewable energy capacity.

“The Philippines is blessed with a lot of renewable energy possibilities, let us explore it,” she said.

Meanwhile, Guevara said they will issue on February 14 the policy for the energy storage system.

She explained that since the country is gearing for renewable energy, such mechanisms should be in place.

“If for example solar, there are clouds, they can store the energy,” she explained.