Reported late last week, the Philippines’ Department of Energy (DOE) signed a total of 26 renewable-energy service contracts (RESCs) that is expected to result in an initial investment of about $277 million and generate about 466 megawatts (mW) of power.

Energy Secretary Angelo Reyes said the signing is part of DOE’s continuing efforts to aggressively promote the development, utilization and commercialization of renewable-energy sources in a bid to achieve the renewable-energy target and to double the capacity by 2020.

According to Reyes, under the fourth RESC, they awarded, through an open and competitive selection process, some four geothermal RE contracts, while the rest are direct negotiations.

To date, the total number of signed contracts since the enactment of Republic Act 9513, or the Renewable-Energy Act of 2008, is around 180, inclusive of biomass projects for own use.

The new contracts signed include six contracts for hydropower, one for ocean, five contracts for wind, six contracts for geothermal and two contracts for biomass.”

The geothermal service contracts have a projected capacity of 315 MW.

Details about the Philippine Geothermal Service Contract System

Source: Business Mirror