The Department of Energy (DOE) is expecting more local and international investors in the renewable energy (RE) space once the administrative framework for the development of offshore wind (OSW) resources has been released.
The Department of Energy is expecting more local and international investors in the renewable energy space once the administrative framework for the development of offshore wind resources has been released.
Lotilla said the DOE is working with concerned government agencies, local government units, and the transmission concessionaire to implement the directives of President Ferdinand Marcos Jr. under Executive Order No. 21. Apart from policy enhancements, the agency said there are available incentives for RE projects under the 2022 Philippine Strategic Investment Priority Plan . In addition, there are also income tax holidays, duty-free importation, and tax exemption of carbon credits provided under Republic Act No. 9513 or the Renewable Energy Act.
Recently, BlueFloat Energy announced its market entry in the Philippines through the acquisition of Wind Energy Service Contracts in four sites to be located in Bataan, Batangas, Cagayan and Ilocos, and Southern Mindoro.
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