The Department of Energy (DOE) has awarded contracts to winning bidders under the third Green Energy Auction (GEA-3), covering renewable energy projects such as geothermal and pumped-storage hydropower.
The staggered price increase is intended to ease immediate inflationary pressure, especially on transport and agriculture sectors, according to the Department of Energy.
It pointed out that most new projects entering the grid are solar plants, which do not generate power at night, further straining supply and driving up prices.
Globe’s Valero Telepark has received a special award for innovative contribution from the Department of Energy (DOE) for its 100-percent renewable energy adoption and the use of artificial intelligence (AI) to optimize compressor energy management.
The Philippines is set to see a surge in green job creation following President Marcos' approval of expanded tariff exemptions on electric vehicles, according to Finance Secretary Ralph Recto.
Repower Energy Development Corp. (REDC), a subsidiary of the Tiu family-led Pure Energy Holdings Corp., received a hydropower service contract from the Department of Energy (DOE) to develop a 320 Megawatt seawater pumped storage hydropower facility in Real, Quezon.