Clearly defined policies will allow the Philippines to maximize its renewable energy (RE) potentials, a Danish company said.
Vestas Asia Pacific President Clive Turton told reporters on Tuesday that the country was uniquely positioned to supply clean and cheap wind energy.
While investors waiting and ready with their checkbooks, Turton said investments would boom if the government was clear with its policy and development framework for the industry.
“We are happy to invest our own money, our own time to supporting all of it because we’d like to see the region growing more in the renewable green energy,” he said.
The Department of Energy (DoE) is aiming to release its Green Energy Option Program (GEOP) and Renewable Portfolio Standards (RPS) before the end of the year.
The GEOP will allow end-users to choose their own RE providers that generate power from biomass, solar, wind, geothermal, ocean waves, and hydropower.
The RPS, meanwhile, essentially allows customers option to tell distrubution utilities that he/she desires to purchase RE power.
The schemes are expected to diversify power supply in the country, bolster socio-economic development in rural areas, and help address environmental concerns by reducing harmful emissions.
Vestas, which employs more than 400 workers in the country, is in the business of manufacturing, installing, and servicing wind turbines.