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Ocean Power Technologies, Inc. Message Board

  • t74_se t74_se Oct 20, 2010 3:03 PM Flag

    Philippines next target for OPT?

    "Monday, 11 October 2010 00:00

    THE government plans to turn the Philippines into an Asian assembly hub for renewable energy (RE) projects in the near future.

    Mario Marasigan, Department of Energy (DOE) assistant secretary, said that the influx of green power projects can help attract further investments in the manufacturing industry. “One of the visions we’re working on, if we develop the resources, then demonstrate [the] technologies. If it works well, then the market will be there,” he said.

    Since the passage of the Renewable Energy Act of 2008, the DOE has signed 205 contracts for RE projects. Another 382 proposals are also awaiting approval.

    The law granted fiscal and non-fiscal incentives to proponents of RE projects such as wind, solar, hydro, biomas and ocean power technologies, whose development have long been hampered by high investment costs and limited markets.

    The approved contracts alone are worth over P87.74 billion in potential investments and would generate 4,400 megawatts of clean and indigenous power once realized. This output is more than double the present generating capacity of the Visayas and Mindanao combined, which are both suffering from unstable power supply.

    The DOE targets to achieve its goal of turning the country into an RE hub in five to seven years once these recently inked investments begin to bear fruit.

    At present, the only global green power developer operating manufacturing facilities in the country is SunPower Philippines Manufacturing Ltd., a unit of the US-based solar technology developer.

    Marasigan is confident that the DOE could also attract other big name companies to set up shop in the country.

    This, however, is contingent on the RE investments developing local resources and demonstrating the viability of their respective technologies, he said.


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