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AUGUSTO AND ELIZABETH GO
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abtest
By Quennie S. Bronce | February 4, 2011 - 12:00am
Recommended
When people hear the term “Province of Rizal,” chances are they do a hard think about where the Province of Rizal starts and where it ends. Most people think Tanay, Taytay, Teresa or Antipolo. Those are just parts of Rizal but this was not always the case.
6 hours ago
MANILA, Philippines — Just as the country’s offshore wind industry seemed poised for takeoff, its inaugural auction has been suspended indefinitely amid current market challenges, including disruptions caused by the Middle East war.
Energy Undersecretary Felix William Fuentebella said the fifth green energy auction (GEA-5) round was placed “on hold until further notice” to give the government time to recalibrate the bidding process.
The recalibration will cover key issues such as port readiness, permitting requirements and the environmental and cost implications of port development.
The Department of Energy (DOE) is also assessing the potential impact of ongoing geopolitical tensions in the Middle East on global supply chains.
“This measure is intended to ensure a more transparent, orderly and implementation-ready auction process,” Fuentebella said in an advisory to all concerned renewable energy stakeholders.
He noted that the suspension would also allow the DOE to further align GEA-5 requirements, timelines and implementation parameters with actual infrastructure readiness, regulations and project development conditions.
“The DOE shall issue the necessary guidelines, supplemental issuances and revised timelines in due course,” added Fuentebella, who chairs the agency’s GEA-Bids Evaluation and Awards Committee.
The indefinite suspension came just weeks after a senior energy official confirmed that nine companies had advanced to the next stage of the evaluation process for the offshore wind auction.
Under the original timetable, the GEA-5 auction proper was supposed to take place on Aug. 27, with notices of award to winning bidders scheduled for Sept. 23.
This landmark auction exclusively covers fixed-bottom offshore wind projects, with original delivery timelines spanning 2028 to 2030.
GEA-5 supports the government’s target of generating the first kilowatt-hours of offshore wind power before the end of President Marcos’ term in 2028.
It is also expected to provide a significant boost to the country’s broader goal of increasing the share of renewables in the energy mix to 35 percent by 2030 and 50 percent by 2040.
1 day ago
Republic Act 6975, the Department of the Interior and Local Government Act of 1990 that created the DILG and the Philippine National Police, set a compulsory retirement age of 56 in the PNP.
2 days ago
The Department of Finance assured the public that the country’s borrowing strategy and access to grants will remain unchanged in the near term, following its recent upgrade to upper?middle income status.
2 days ago
In news media, the term “stop press” means accommodating a late-breaking development just before the printing process of the paper begins. In basketball, the term “press break” means cracking a full-court defense to safely cross the half-line and set up the offense with time to spare.
2 days ago
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