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In the last eight months of 2024, the Philippines’ Department of Energy granted priority status to 91 planned renewable energy projects that’ll add a combined 17.6GW of generating capacity to the grid.
The background: The low-lying island nation, which is particularly vulnerable to the impacts of climate change, aims to reach 35% renewable electricity by 2030, up from 22% in 2023.
To speed up its energy transition, stakeholders are considering the use of transition credits, whereby coal plant owners are compensated for retiring those assets early, switching to renewables, and supporting affected workers and communities.
The latest: Between May and December 2024, “certificates of energy projects of national significance” — which allow for expedited approvals from all relevant authorities — were given to 149 power generation and transmission projects. The approvals were mostly for renewable technologies (17.6GW), though four conventional plants with a total capacity of 1.5GW were also included.
Certificate holders can apply for permits from multiple agencies simultaneously, without waiting for sequential approvals. Their applications are also fast-tracked.
The energy department said more projects that may qualify for the certificates are being assessed.
“The timely development of critical energy infrastructure is essential to securing our nation’s energy future,” energy secretary Raphael PM Lotilla said. “By facilitating investments in power generation and transmission in an efficient and timely manner, we are not only strengthening our energy security but also accelerating our transition to a cleaner, more resilient energy system.”
In 2024, the country added 794MW of new renewable energy capacity, up from 202MW the previous year.
In a separate statement, the Department of Energy said its third green energy auction yielded 7.5GW of bids. The projects under this round all employ hydro and geothermal technologies.
