Philippines signs 112 renewable energy contracts

The Philippines Department of Energy signed 112 renewable energy contracts Feb.1, including 22 for biomass, for a total of about 2,260 additional megawatts.

It was the third in a series of contract signings that will generate investments of about $1.5 billion. The DOE will raise $9 billion to $10 billion from renewable energy projects in the next 10 years and will raise the generating capacity of renewable energy sources to 9,000 MW to effectively address the need for additional power generating capacity and the effects of climate change, according to the DOE.

During a Feb. 1 signing and announcement ceremony with Secretary Angelo T. Reyes, the Pricing Methodology and Rules of Qualified End-users for Net Metering were likewise endorsed to Reyes by the National Renewable Energy Board.