The National Renewable Energy Board will likely endorse the extension of the installation target for run-of river-hydro and biomass projects by two to four years, giving them more time to avail of the feed-in tariff rate, an official said Wednesday.
NREB chairman Jay Layug told reporters at the sidelines of the Power & Electricity World Philippines 2017 Forum that the final decision would come from the board regarding the extension.
NREB is the implementing agency of the Renewable Energy Act of 2008, which grants the feed-in tariff incentive to renewable energy developers.
The government set an installation target of 250 MW for run-of-river hydro and another 250 MW for biomass power projects. Of the approved allowable capability, only 144.8 MW of capacity were able to get FIT incentives for biomass and 28.6 MW for run-of-river hydro as of end-2016.