21 October 2010 in GMA NEWS.TV
British firm raises alarm over RP renewable energy
A British firm is concerned that the Philippines would lose multibillion dollars in investments in renewable energy because the feed-in tariff rules and portfolio for standards that aim to facilitate the establishment of alternative sources of fuels in the country remain unenforced.
Investing in the renewable energy sector in the country "is not viable at the moment since the [implementation of] the feed-in tariff rules for renewable energy and the portfolio for standards are still up in the air," said David de Montaigne, president of Global Green Power, which is engaged in biomass energy resources in the Philippines.
"Everybody is looking at the renewable energy globally and they are looking at the Philippines. [But] every delay to [the feed-in tariffs] will have negative impact to international interests," De Montaigne said in an interview at the climate change forum of the Philippines-United Kingdom partnership Thursday in Rockwell Center in Makati City.
Energy Department is still to adopt the rules regulating the feed-in tariff system, an incentive program under the Renewable Energy Act of 2008 that aims to develop renewable energy resources — wind, solar, large hydro, biomass, and ocean — in the country.
The passage of Renewable Energy law in 2008 has attracted global investments in alternative fuels as the Philippines is rich in alternative fuels like solar, wind, hydro, biomass, and ocean power.
The energy department has assured investors that the feed-in tariff rules is a priority, but that the implementation may happen sometime January-February 2011, De Montaigne said.
The National Renewable Energy Board, led by Pedro Maniego, has until Nov. 4 to give the Energy Regulatory Commission (ERC) more proposals regarding the feed-in tariffs.
Former Finance Secretary Roberto de Ocampo — now head of the British Alumni Association — said that the Philippines should strengthen business opportunities on renewable energy as part of efforts to mitigate the harsh impact of climate change.
"Part of the impact of climate change is a reaction to practices of business and the utilization of energy sources are contributing to what's happening to the environment," De Ocampo said in an interview at the sidelines of the forum.
The business sector should look at problems as opportunities to supply technology, develop research, and help the global community in mitigation and adaptation programs on climate change, he said.