Smaller businesses urged to invest in renewable energy projects

MANILA, Philippines - Smaller businesses must be encouraged to invest in renewable energy, a move that may prevent energy shortage in the future.

In an interview, GTZ (German Technical Cooperation) program advisor Walter Salzer said that the country has a big potential for renewable energy because there are still a number of untapped resources.

Salzer said that the Philippines can focus on geothermal, wind, solar and hydroenergy.

However, he said that the trend in the country is that only big firms invest in energy. To encourage more projects, Salzer said that mid-sized firms must likewise enter the energy market.

He said this can be done by making investments in renewable energy more attractive. He said polluters must be punished by imposing high taxes on coal plants. Energy from coal are cheaper but have big social costs.

Salzer said that they will be presenting their study on renewable energy to the public on October 8.

“Germany has excellent technology and the Philippines can benefit through a transfer of knowledge,” Salzer noted.

The renewable energy forum is part of the Mabuhay Germany celebration which will run from Oct. 9 to 11.

In the Philippines , the German government is helping address climate change related concerns through its Official Development Assistance (ODA) agencies such as the GTZ and KfW Development Bank.

In fact, Salzer noted that they are providing a P600 million fund for climate protection program of local government units (LGUs). He said the money will be released through the Land Bank of the Philippines.

Salzer said qualified LGUs can apply for a grant and use the money to help their area be environmentally safe. An example of the project may be the improvement of a sanitary landfill.

GTZ’s Adaptation to Climate Change and Conservation of the Biodiversity in the Philippines (ACCBio) is implemented by the Department of Energy and Natural resources with technical assistance from GTZ.