AT least 29 renewable energy (RE) projects are in the pipeline for nomination for feed-in tariff (FIT) allocation, according to data posted by the Department of Energy (DOE) on its website.
As of October 31, the DOE said 22 solar power projects and seven wind power projects are up for nomination and conversion for FIT.
The solar projects have a combined capacity of 761.97 megawatts (MW) while the wind projects have a total capacity of 1,023.55 MW.
At the same time, the DOE said a total of 1,572 MW of RE projects were issued certificates of confirmation of commerciality.
For hydropower, 59 projects with a total capacity of 576.49 MW were issued the said certificates, while for solar power, 17 projects with a combined capacity of 638.12 MW were granted the same certificates.
Meanwhile, six biomass projects with a combined capacity of 44.37 MW and five wind power projects with total capacity of 313 MW were also granted the certificates of confirmation of commerciality.
The FIT incentive is in line with the implementation of the Renewable Energy Act of 2008 (R.A. 9513) to spur the development of renewable energy resources in the country.
Under the said law, emerging RE generation projects get to enjoy non-fiscal incentives such as the FIT scheme, which sets a fixed tariff for different emerging RE technologies applicable for 20 years.
Based on the ERC-approved tariff for the first tranche, the rates are as follows: for hydro, P5.90 per kWh; for wind, P8.53 per kWh; for solar, P9.68 per kWh; and for biomass, P6.64 per kWh. The ERC deferred its decision for ocean-derived energy.
The incentive will be given to developers through a FIT Allowance (FIT-ALL), which represents the difference between the FIT price level and the prevailing market prices (cost recovery rate) plus other components.
The FIT-ALL is being collected by distribution utilities, National Grid Corp. of the Philippines (NGCP), and renewable energy producers.