More than a dozen solar power projects, with a combined capacity of 600 megawatts, are in the race to get endorsement from the Energy Department to avail of the feed-in tariff rates.
The Energy Department has so far endorsed nearly 200 MW of solar power projects to the Energy Regulatory Commission for FIT availment under the second wave of solar installation targets.
“Right now, based on those who asked for inspection, [the solar installation target] is still not fully subscribed, but I know there there still a lot of companies that want to comply [with the deadline],” Energy Secretary Zenaida Monsada told reporters.
The site verification will determine whether the solar power projects are now fully operational and are connected to the transmission grid. The department set the deadline for compliance on March 16.
The companies are hoping to avail of an FIT rate of P8.69 per kilowatt-hour under the second wave of approved installation targets, accounting for 450 MW of solar capacity.ASF
The first wave of approved solar installation targets covering 50 MW availed of the P9.68 per kWh feed-in tariff rate for 20 years.
The entry of more solar power projects is an offshoot of the passage of the Renewable Energy Law of 2008 which put the Philippines in the world renewable energy map.
