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Thursday, March 28, 2024

Auction for 2,000 MW of renewable energy set

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The National Renewable Energy Board plans to auction about 2,000 megawatts of renewable energy capacity under the proposed Green Energy Tariff Rate Program within the year.

NREB chairman Monalisa  Dimalanta said the board was set to meet this week to discuss and complete the framework of the auction.

“Based on the instructions of the secretary, the main objective is promote more investments in the RE sector considering that it won’t have feed-in tariffs and another round of feed-in tariffs anymore. So it’s really to attract more investments and the idea is to create a market for them to facilitate their access to market for the renewable energy,” Dimalanta said.

“The target is to roll this out within the year. So hopefully we meet the target,” she added.

The official said the Department of Energy had given the NREB the leeway to decide on how to move forward with the auction.

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