Energy dept getting ready to award 760 MW projects to renewable energy producers

By GMA News:

The Department of Energy, anticipating approval by the Energy Regulatory Commission of the feed-in tariff designed to encourage investments in renewable energy, is preparing several options for RE producers to attain the generation goal of 760 megawatts (MW).

“We respect the process of FIT under the law. Now once that (FIT) is issued, the ball is now in the DOE’s court, which is who goes first…Especially for solar and wind, given our installation target, we anticipate that it will be oversubscribed,” Energy Undersecretary Jay Layug said Wednesday.

The FIT rate would be fixed for every kilowatt-hour of electricity produced and it would stay fixed for 20 years… Read more

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