SouthEast Asia Dec-Jan Issue 2023

AUTHOR:

DENNIS A. QUINTERO Partner, Quisumbing Torres Law Offices Head, Energy, Mining, and Infrastructure Group

The Philippines is benefitting from decisive actions in the last four years by its government to liberalize and encourage more foreign investment in key sectors of the economy In 2021, a law was passed lowering the paid up capital requirement for foreign retail enterprises. 2022 saw the passage of a law to remove foreign equity limits on industries such as telecommunications, domestic shipping, railways and subways, and roadways Furthermore, the Supreme Court ruled in 2020 that the construction business is not subject to any foreign equity limitation, although such decision is still the subject of a motion for reconsideration and has not yet attained finality

In the renewable energy sector, full foreign ownership in biomass and waste-to-energy projects in the Philippines has been allowed since 2019. Department of Energy regulations already allow up to 100% foreign ownership of large-scale geothermal projects through the exception provided in the Philippine Constitution for financial or technical assistance agreements

The renewable energy space was further liberalized through the issuance in 2022 by the Department of Energy (DOE) of a circular amending the implementing rules of the Philippine Renewable Energy Act The circular lifted the foreign equity limitation of 40% on the exploration, development and utilization of solar, wind, hydro and ocean or tidal energy resources which would now permit up to 100% foreign ownership in such renewable energy projects

The DOE Department Circular followed an opinion from the Department of Justice (DOJ) earlier in 2022 where the DOJ expressed the view that the minimum 60% Filipino equity requirement under the 1987 Philippine Constitution relating to the exploration, development and utilization of natural resources should not apply to solar, wind, hydro and ocean or tidal energy resources.

The DOE circular became effective on 8 December 2022 Thus, Philippine entities engaged in the exploration, development and utilization of natural of solar, wind, hydro and ocean or tidal energy sources can now be up to 100% foreign-owned.

On battery storage, the Philippine government is working towards creating suitable conditions for the in-country processing of rich deposits of the green metals such as nickel, cobalt, and copper into battery grade materials, as well as development of mines that will supply the ore Eventually, the objective would be for battery manufacturing plants to be established in the country making use of the minerals present therein

“In the renewable energy sector, full foreign ownership in biomass and waste-to-energy projects in the Philippines has been allowed since 2019. Department of Energy regulations already allow up to 100% foreign ownership of large-scale geothermal projects through the exception provided in the Philippine Constitution for financial or technical assistance agreements.”

Mike M Consenheim

CEO, SolarNRG Philippines

CONVERSATION HIGHLIGHTS

The Government along with the Department of Energy is promoting Renewable energy with action plans and big goals for 2023

Promoting solar with benefits, and incentives are a good strategy but subsidies from our government will truly help the big players to move to greener energy sources

We will reach 10 years of operation in the Philippines and achieve more than 20 years of operation globally, overall with more than 300MW installed globally.

HOW HAS 2022 BEEN FOR SOLARNRG?

It has been very good. The covid 19 pandemic was very hard here in the Philippines so after years of uncertainty in the Filipino economy, 2022 was a year of recovery for us and all industries We are proud to say that we have grown to become one of the largest solar roof-top companies in the Philippines winning several awards which recognize our work and dedication.

WHAT IS YOUR VIEW ON THE PHILIPPINES' SOLAR MARKET AT PRESENT?

It is growing steadily faster The Government along with the Department of Energy is promoting Renewable energy with action plans and big goals for 2023 The regulations proposed and hopefully, its incentives will increase the need for solar in every new commercial and industrial building.

WHAT ACCORDING TO YOU NEEDS TO BE IMPROVED TO FURTHER EXPAND THE SOLAR SECTOR IN THE REGION?

There is a lot of interest in solar, especially for big commercial, utility, and industrial buildings I believe that to expand further, there should be more subsidies, especially for commercial Promoting solar with benefits, and incentives are a good strategy but subsidies from our government will truly help the big players to move to greener energy sources.

WHAT ARE THE MILESTONES SOLARNRG IS AIMING FOR IN 2023?

This 2023 we aim to reach 30MW total installed and operational in the nation. We will reach 10 years of operation in the Philippines and achieve more than 20 years of operation globally, overall with more than 300MW installed globally There are challenges in growing so fast and handling so many projects We take care of our clients and projects even after installation so we have put a lot of effort into our maintenance team and customer service as well to continue getting our clients’ satisfaction

ANYTHING ELSE YOU WOULD LIKE OUR READERS TO KNOW?

A solar system can be designed in so many ways and the overall installation can be of good quality or not, there are many variables that can change the outcome A solar system does not need much maintenance but being an investment that will last for more than 25 years, you should choose wisely. From our part, we handle customers with honesty and take pride in our integrity, and we value building long-term relationships It is important to choose a solar company well: look beyond prices only, look at the portfolio of installed systems, completed projects, satisfied clients, and reputation. Quality of installation as well as aftercare service is extremely important for a long-term investment such as a solar system

We are proud to say that we have grown to become one of the largest solar roof-top companies in the Philippines winning several awards which recognize our work and dedication."

Patrick Zhu

Managing Director, Maoneng Philippines International Corporation

CONVERSATION HIGHLIGHTS

Currently we have an ongoing project to CCLEX the new and longest bridge in the Philippines also owned by Metro Pacific

In few weeks time we shall be launching BERDE RENEWABLES

There is no single Solar Company focusing on C&I that will be as big as Berde and as aggressive as Berde

GIVE US A BRIEF OVERVIEW OF YOUR COMPANY AND ITS SERVICES.

Maoneng Philippines is part of the Maoneng group based in Australia We are a 100% renewable energy company It was established in the year 2018 with Solar EPC on C&I as its core business.

We are bringing international expertise in the local Philippine Solar market

WHAT HAVE BEEN SOME OF YOUR MAJOR PROJECTS?

We built our first Megawatt Solar project to RPMC, a manufacturing company with multiple facilities located in Valenzuela and Quezon City. We built the award-winning CALAX Solar Carpark owned by Metro Pacific Tollways, and currently we have an ongoing project to CCLEX the new and longest bridge in the Philippines also owned by Metro Pacific, and in the next few weeks we will build another project to CAVITEX, also under Metro Pacific Wilcon Home Depot, the countries leading retailer on House Improvements and Construction supplies, we have ongoing projects to their 18 sites located nationwide with an aggregate capacity of 5MW Many other big ticket projects are on its way to development

WHAT IS YOUR VIEW ON THE PHILIPPINES' CURRENT SOLAR MARKET? HOW DO YOU SEE IT EVOLVING IN 2023?

Specifically on the C&I segment, the market has reached its maturity stage According to the Department of Energy's data of 2020 the total installed Solar PV system is only 200MW so the market was not yet captured during that time The catalyst for the Solar market boom now are (1) High Electricity Rates, caused by high coal price and diesel price triggered by Ukraine war (2) Strong regulatory support from the government specially the current administration, the increase in net-metering cap from 100kW to 1MW will drive the Solar demand (3) The country is now facing energy crisis due to low power reserves which is likewise keeping the current electricity prices at its record high, the Moratorium on Coal signed a couple of years back and the depletion of Malampaya reserves will all play eliable solution to it, and that's Solar, Solar asiest technology to deploy 2023 will

WHAT HAVE BEEN SOME MILESTONES ACHIEVED BY YOUR COMPANY IN 2022?

Aside from the big projects we completed last year, we are proud to welcome the arrival of Isquared Capital partnering to Maoneng Isquared Capital, being a world-renowned infrastructure equity investor with more than 30 billion USD assets under its diverse global portfolio that includes renewables, just goes to show how these global leading companies are showing confidence and interest to Maoneng. We can't be more happy and proud to this current development, in few weeks time we shall be launching BERDE RENEWABLES, we'll provide Renewable Energy-as-a-solution to the Philippines, we'll be investing heavily on C&I PPA

WHAT ARE THE GROWTH PLANS FOR 2023?

Berde Renewables will only not be competitive but we'll aspire to dominate the market, we'll be expanding like 400% of our current manpower There is no single Solar Company focusing on C&I that will be as big as Berde and as aggressive as Berde Our plan is to get the lion's share.

At Maoneng Philippines International Corporation, we are bringing international expertise in the local Philippine Solar market."

we have ongoing projects to their 18 sites located nationwide with an aggregate capacity of 5MW. Many other big ticket projects are on its way to development."

AUTHOR:

MR THOMAS JAKOBSEN CEO, Indochina Energy Partners Co., Ltd.

The solar power has been developed massively since 2019 without the corresponding power infrastructure expansion The biggest challenge for investors in Vietnam's renewable energy sector is the country’s lack of national electricity plan, i e promulgation of PDP8

Vietnam has in the 5 years since 2017 seen a total of about 17 GW of PV solar and 6 GW of wind power installed This is a massive achievement by the entire industry and associated stakeholders, hereunder the Vietnamese Government and its’ relevant agencies

EVN has therefore stopped signing PPAs for Solar and Wind projects selling to the grid since the end of 2020/Nov2021

The DPPA scheme in Vietnam has been under development with help from USAID since 2018 and is thus designed to be balanced towards both the consumer and the generator.

In Vietnam, the Direct Power Purchasing Agreement (DPPA) is proposed to be structured as a virtual agreement As the wholesale market has a constantly fluctuating price, the DPPA seeks to provide both the investor (such as Indochina Energy Partners (IEP)) and the consumer with more stable prices by letting us agree a “Contract for Difference” (CfD) - (a purely financial contract) This agreement will protect parties against financial risks caused by fluctuation of electricity market prices, thereby maintaining sustainable investment in renewable energy production.

IEP has played a pivotal role in the development of the DPPA program and has a strong offering that balances the risks of investors and off-takers IEP is looking forward to the launch of the DPPA and expects to be a major force in the implementation of the pilot phase

In October 2022, MOIT has reconfirmed the DPPA model and established a relatively detailed schedule for implementing the pilot scheme.

The government should consider the issuance of the DPPA according to the latest draft That will motivate energy developers to build renewable energy projects from PDP7 The new FiT are at levels offered from EVN in letter 6570 are comparable to other countries in the region and therefore DPPA is a reasonable and sensible alternative

The above recommendations seem to be in line with Prime Minister Chinh’s latest statements on avoiding high Feed-In-Tariffs

Offtakers (e g big FDI companies with large investments in Vietnam) to procure clean Renewable Energy, and thus live up to international sustainability commitments

Investors, such as IEP, to make a reasonable, but not extreme, profit on providing such clean Renewable Energy Allow EVN to focus on making upgrades to the transmission network, and have a very limited financial risk, as no new high FiT are being promised to investors

IEP is always happy to help and advice any investors, equipment manufacturers or electricity off-takers on the DPPA pilot scheme

The Future of Energy Depends on DERMS

Distributed energy resources (DERs) like residential solar panels are a great way for homeowners to reduce their carbon footprint and the energy they draw from the grid Consumer DERs can also benefit utilities, as owners of PV panels can augment the utility’s power supply by putting excess power into the grid. However, DER assets are only advantageous to both parties if utilities can manage their contribution to the grid safely and consistently Solar PV and EV chargers can disrupt grid stability if utilities can’t accommodate spikes in power generation or consumption To effectively manage DERs, utilities need to employ innovative clean energy tech that can seamlessly manage and integrate various resources from DERs to traditional power plants

Managing these resources while minimizing grid disruption and controlling for intermittent power supply is a huge challenge, and a grid that cannot effectively support DERs is essentially wasting clean energy Utilities may think accommodating these renewable assets and making full use of their clean energy requires major infrastructure upgrades However, cost-efficient software solutions exist now that utilities can easily integrate with legacy grids to balance both renewable assets and legacy fossil fuel power plants

DERMS – a distributed energy resource management systemis the key to unlocking the renewable energy potential of communities’ residential DERs Without requiring major infrastructure upgrades, utilities can today install a tool that manages the rapid addition of renewable assets. A DERMS gives grid operators a comprehensive view of everything that’s happening on the grid, and can balance power between intermittent assets, energy storage, and legacy power plants

PXiSE Energy Solutions has partnered with several utilities around the world to help manage their energy assets with a DERMS solution One such project is in the remote town of Onslow, Australia, where utility Horizon Power needed a way to integrate a broad array of customer DERs into a grid that includes fossil fuel generators. This isolated community lacks a connection to a larger power grid, which makes power management with a high number of intermittent renewables more challenging

Horizon Power paired a state-of-the-art DERMS alongside a microgrid controller from PXiSE that uses two-way, sensorbased technology to monitor the grid in real time, mitigating disturbances and balancing variable solar generation, energy storage, and customer demand

With 260 customer solar PV resources providing 2 1 MW generating capacity (and capacity for an additional 200 kW), the project provided Horizon Power with the tools needed to

manage Onslow’s diverse energy assets The project also demonstrated that the combination of a microgrid controller and DERMS can help a community run entirely on fossil-free DERs Earlier this year, in the world’s first known instance of solar-plus-batteries supplying 100% of a community’s power, Onslow was powered without the use of any fossil fuel or hydropower-based systems for 80 minutes

The landmark event in Onslow proves that a DERMS can manage DERs with a degree of precision that eliminates grid stability concerns and moves communities closer to being able to operate entirely on renewable energy assets As communities seek to meet their climate action goals, DERs will continue to increase DERMS technology available today can help utilities ensure their grids are not only prepared but also optimized for the benefits of the clean energy revolution

“DERMS technology available today can help utilities ensure their grids are not only prepared but also optimized for the benefits of the clean energy revolution.”

AWARDS

Congratulations to all the BUSINESS EXCELLENCE AWARDS WINNERS

SOUTHEASTASIA

CICOMMERCIAL&INDUSTRIAL & LEADERSHIP AWARDS2022

INDUSTRY LEADERSHIP AWARDS

Best C&I Energy Developer Award

Best C&I Project Award: Hybrid (Solar & ESS)

TOTALENERGIES RENEWABLES

DG DEVELOPMENT

ASIA PTE. LTD

Best C&I Green Energy Project Award

Best C&I EPC Service Award

CJ OLIVENETWORKS VINA CO., LTD

Best C&I Project Award: Rooftop (Industrial)

VU PHONG ENERGY GROUP

Best C&I Service Provider Award

SUN ENERGY

Best C&I Project Award: BLT Model PROINSO GROUP

SOLARQUARTER RESEARCH

Solar PV Technology's Contrib To The Development of The Renewable Energy Market In T Philippines

As more people realize the value of converting t energies as an alternative to electrical grid-powe support for solar energy in the Philippines is now inc materials are being found to be more effective and toxic in terms of production and use as technolog continuously.

In recent years, the Philippines has experienced growth and advancement in solar PV technology The nation has an abundance of solar resources, which makes it a desirable market for solar energy investment. To encourage the use of solar energy, the Philippine government has put in place several initiatives, including feed-in tariffs, tax breaks, and a net-metering program Large-scale solar projects have received funding from the private sector as well, particularly in the nation's largest state, Luzon. The creation of microgrids in rural regions has also improved access to electricity there and played a significant role in the expansion of the solar PV industry

The Philippines has seen a steady rise in the development of solar PV technology in the present day The nation benefits from a lot of sunlight and is an ideal place for the production of solar energy The Philippine government has established a goal of reaching 50% of the nation's energy needs from renewable sources by 2050 and has put in place several incentives to promote the growth of solar power Large-scale solar installations have also received funding from private businesses and investors

The first solar PV auction held in the nation took place in 2018 and drew a sizable number of participants The high upfront cost, the absence of grid infrastructure, and the restricted availability of funding for small-scale projects remain obstacles to the general adoption of solar PV technology

In the Philippines, solar PV technology has advanced significantly The government has put in place regulations and initiatives to promote the use of renewable energy sources, particularly solar energy

For their energy requirements as well as to sell excess electricity back to the grid, private businesses and organizations have also invested in the installation of solar PV systems. To fully exploit the promise of solar PV technology in the Philippines, infrastructure and interconnection with the national grid still need to be improved

ed in the nation, solar PV technology is country is gradually adopting the

technology as installed solar PV capacity moves closer to 2 GW For the majority of solar component vendors, the Philippines is still a relatively untapped market for products like modules, cells, inverters, solar monitoring tools, weather forecasting services, drone inspection equipment, dry panel cleaning products, and so on Due to the additional expense associated with this new technology, the majority of installers are gradually incorporating these alternative technologies into both their current and future plants

Solar inverters and modules are the main emphases because distributed segments account for the majority of installations in the nation. In addition to the most recent solar inverters made available for other major solar PV markets like China and India, the nation is also getting a taste of greater wattage panels The majority of distributed solar projects across the nation use the most recent advancements in solar technology for better plant operation, including dry panel cleaning to conserve water, data monitoring for better solar project operation, higher wattage panels for less space and better efficiency, and so forth

In the future years, the Philippines market will see the introduction of additional solar technologies due to the country's ambitious plans to expand the penetration of renewable energy sources, particularly solar, to more than 50% of the entire energy mix The most recent technology that will be implemented across the nation in 2023 will be solar with storage

SOLARQUARTER RESEARCH

Supportive Policy Aids The Nation In Meeting

Solar PV Goals

The Philippines government has put in place supportive policies to encourage the development of the solar PV industry, aiding the nation in achieving its solar energy objectives These policies, stimulate private sector investment in solar PV projects as well as attract local and foreign investors to the market and support the growth of the nation's renewable energy sector, including tax incentives, subsidies, and easy access to finance. Additionally, the government has put in place policies that support the creation and utilization of renewable energy sources, such as solar energy, which has boosted their adoption throughout the nation With these policies in place, the Philippines is well on its way to lowering its reliance on fossil fuels and increasing the share of renewable energy sources in its energy mix

The Philippines' 2040 solar PV targets will be greatly aided by the supportive policy environment Policies, rules, and incentives from the government can foster investment and expansion in the solar energy industry This can enhance the financial feasibility of solar energy projects overall, expand access to funding, and draw private sector investment. This can thus result in quicker and more extensive deployment of solar PV technology, which is essential in achieving the nation's ambitious targets for the production of renewable energy

The Philippines has put in place several regulations to encourage the growth of the solar energy industry The Renewable Energy Act of 2008, Net Metering, and the Solar Home System Program are a few of the notable policies, these and other policies create an environment that is conducive to investment and expansion in the solar energy industry, which can help the nation meet its lofty targets for the production of renewable energy

Department of Energy Circular outlines the Feed-in Tariff program, and provides a guaranteed price for electricity generated from renewable energy sources, particularly solar. The Philippines has a number of policies and programmes designed to encourage the development of its solar energy industry and help it meet its solar PV objectives. Some of the nation's most important solar PV policies are listed below, including

e Philippines a seven-year break from corporate income taxes; a reduced corporate income tax rate of 10% after the tax holiday expires; tax exemptions for carbon credits produced by renewable energy sources; a 1 5 percent real estate tax cap on the original cost of facilities and equipment used to produce renewable energy; and exemptions from value-added taxes for the acquisition, grid connection, and transmission of electricity produced from renewable sources.

Net Metering Regulation: The cost of owning and operating a solar PV system may be reduced because of this policy, which permits consumers with solar PV systems to sell excess electricity back to the grid.

Feed-in Tariff Program: To stimulate investment in the renewable energy sector, this programme offers guaranteed fixed rates for power produced from renewable sources, including solar

Department of Energy's Solar Power Development Plan: This plan describes the policies and actions necessary to meet the government's ambition of having 3 GMW of installed solar capacity in place by the year 2040

By opening up its renewable energy sector to foreign investment in its entirety, the Philippines has significantly altered its energy legislation With the modification, foreign investors can now own 100% of the equity in companies that explore, develop, and use renewable energy sources like solar, wind, hydro, and ocean or tidal The regulatory modification comes as the Philippines looks to draw in international capital to expand its renewable energy industry and achieve its long-term climate goals.

The development of the Philippine solar energy industry and the achievement of the nation's lofty solar PV goals are both significantly aided by these policies and programmes

Enticing Solar Policy C Numerous Investment

The installation of solar panels on hou one of the many investment opportunit in solar policy has brought. The Renew establishes state policy to promo development of renewable energy so limited to biomass, solar, wind, hydro energy resources, as well as hybrid sy self-reliance. This is done by impleme development strategies to lessen the fuels and, as a result, reduce the co fluctuations in the global market

One of the major obstacles to reaching the target 35% share of renewable energy in the power generation mix by 2030 and 50% share by 2040 will be resolved by eliminating the nationality requirement imposed on businesses engaged in the exploration, development, and utilization of solar, wind, hydropower, and ocean energy This will also allow the entity of foreign capital into the country's RE industry

After November 2022, the statute was changed. According to the energy secretary, the Philippines can now directly carry out the exploration, development, production, and use of renewable energy, or enter into agreements for renewable energy services or operations with Filipino or foreign nationals, Filipino or foreign companies, or Filipino or foreign associations, without a limit on the amount of foreign ownership

As a result of changes made to the implementing rules and regulations (IRR) of the Renewable Energy (RE) Act of 2008 by the Department of Energy (DOE), foreign entities can now hold 100% of renewable energy projects, particularly in the wind and solar investment sectors Investors can take advantage of these chances to diversify their holdings and profit from the market expansion for renewable energy

Early in November 2022, Energy Secretary Raphael PM Lotilla approved a circular that changed the Renewable Energy Act of 2008's Implementing Rules and Regulations (IRR) to permit 100% foreign investment in renewable energy projects including solar and wind

Typically, foreign investors have the substantial financial resources required to carry initiatives to economic completion. They also have the technical know-how required to install and run these sustainable energy technologies

Additionally, "the exploration, development, production, and usage of natural resources shall be under the full control and supervision of the state," according to the IRR of the Renewable Energy Law Such operations are still authorized, but only in conjunction with Filipino citizens or businesses or organizations with at least 60% Filipino ownership

Before the DoE changed the regulations, foreign developers could only own up to 40% of renewable energy projects. The Department of Justice (DOJ) of the Philippines stated in October that foreign investors in renewable energy projects in the country should be permitted to own 100% of a project rather than being limited to a 40% share

To balance the power mix portfolio, the Philippines' energy transition strategy mainly relies on investments in renewable energy, with a target share of 35 percent by 2030 and 50 percent by 2040 At a ceremony to provide the Commission on Audit (COA) with a Certificate of Compliance as a Qualified End-User on January 16, 2023, the Energy Regulatory Commission (ERC) hailed the COA as the national agency champion for the Net Metering Program

The rooftop panels were placed in 2017 by the COA in collaboration with the Philippine National Oil Company (PNOC) Renewables Corporation to demonstrate support for the government's move toward renewable energy and to make use of less expensive alternative sources of electricity We started using solar panels five years ago, and now we are reaping the rewards in the money saved We have produced total savings for both buildings of more than PhP800,000 for the period from January to September 2022 alone. We hope that additional organizations will recognize the advantages and be inspired to take our lead, Cordoba, the COA's chairperson, stated

The COA's actions are in line with the government's policy of supporting renewable energy, and it is a significant government agency that has registered for the net-metering scheme

The Renewable Energy (RE) Act of 2008's first fully operational non-fiscal incentive tool is the Net-Metering Program By building a solar plant on its property, a regular energy user can transition into a "prosumer" (producer-consumer) through net metering As a prosumer, the consumer can generate some of their own electricity needs through an installation of RE. Any extra electricity produced can subsequently be sold to the distribution system, resulting in a rebate on the consumer's monthly bill

Homeowners and business owners can sign up for the programme with their distribution utility through the installation of solar PV panels up to 100 kW to save money while partially meeting their own consumption needs.

Government agencies are not currently required to use net metering In a meeting with the President in November 2022, the ERC Chairperson and Energy Secretary emphasized the direct benefits derived from this programme as well as protection against rising electricity prices, drawing on the positive experience of agency champions (like COA and other local government units)

Only 7,583 qualifying end-users are currently enrolled in the Net-Metering Program as of 2013, with 6,120 of these customers located in Luzon, 1,168 in the Visayas, and 295 in Mindanao A lot of the country needs more aggressive efforts to promote and implement the programme, even if it clearly shows the potential for electricity cost reductions and protection against bill surprises The ERC is sure that the net metering scheme will see a large increase because the government is driving this endeavour

SOLARQUARTER RESEARCH

MARKET STATISTICS

PHILIPPINES AIMING TO REACH 2 GW OF INSTALLED SOLAR PV CAPACITY BY 2023

The Philippines deployed more than 1.5 GW of solar PV, and the country's solar installation is growing quickly. If we compare the solar installation from CY 2021 to CY 2020, there was a growth rate of almost 200% in the year Around 1 32 GW of Solar PV were deployed in the nation by the end of 2021, a 29% increase from 2020

CUMULATIVE SOLAR PV INSTALLED CAPACITY IN PHILIPPINES

The introduction of the FiT (feed-in-tariff) programme in 2010, which provided qualified producers of renewable energy with a guaranteed fixed-rate payment per kilowatt-hour for the sale of electricity, has resulted in an explosion of RE technologies throughout the nation. There are currently 127 non-hydro renewable energy projects with a combined capacity of 21 4 GW in development A total of 1,809 7 MW has been installed between 2016 and 2022, adding capacity to the nation's energy grid. The majority of which was derived from solar projects, with 1,221 7 MW, followed by projects using biomass, 22 5 MW of geothermal energy, 151.4 MW of hydropower, and 16 MW of wind power

Six majors RE projects were completed between 2016 and 2022, adding 41 5 MW of installed capacity and 39 6 MW of reliable capacity Three newly constructed solar projects brought 7.5 MW to the installed capacity, while two hydroelectric projects and one wind project contributed 18 MW and 16 MW, respectively

SOURCE: DepartmentofEnergy*estimate

SOLARQUARTERRESEARCH

YEARLY SOLAR PV INSTALLAED CAPACITY IN PHILIPPINES

Renewable energy projects that have been committed include geothermal (116 MW), hydropower (233 MW), biomass (65 MW), and solar (100 MW) (489 MW) With 2,113 MW of additional capacity, BESS technology is also available.

By the end of 2021, the nation's installed power capacity was estimated to be around 26 88 GW, with coal holding a 58 48% market share and accounting for the majority of the installed power capacity with about 11.7 GW. With an installed capacity of roughly 3 5 GW, natural gas ranks third in terms of power generation in the state The second-largest source of power after geothermal, which has a power capacity of 10 68 GW and a market share of 44.93% among renewables, is renewable Hydro installed 9 2 GW with a capacity of almost 39%, followed by solar, wind, and biomass with installed capacities of 1 47 GW, 1 27 GW, and 1 16 GW, respectively

SOURCE: DepartmentofEnergy*estimate

SOLARQUARTERRESEARCH

In order to reduce emissions from thermal power plants, which currently generate the majority of the nation's electricity from coal, the Department of Electricity (DOE) plans to increase the amount of solar power in the grid. This goal has been set for the year 2040