The Philippine Department of Energy has initiated a tender for 2,000 MW of renewable capacity, including 1,260 MW of solar, 380 MW of wind, 230 MW of biomass and 130 MW of hydro. Projects are located in Luzon (1,400 MW), Visayas (400 MW) and Mindanao (200 MW). Bids are open until 28 April 2022. The selected projects will benefit from the country’s Renewable Portfolio Standards (RPS), a market mechanism that will guarantee revenue stream for project developers via power supply agreements (PSAs) with distribution utilities.
The Renewable energy roadmap 2017-2040 aims to double the renewable capacity by 2030 and increase capacity to at least 20 GW by 2040. Renewables (including hydro) account for a quarter of the country’s installed capacity, with 7.2 GW (2020).
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