MANILA, Philippines – The 500-megawatt (MW) installation target for solar power under the feed-in tariff (FIT) regime will be fully subscribed in time for the deadline set today, government officials said.
The government is confident the 500-MW target for solar will be met, Energy Regulatory Commission (ERC) commissioner Josefina Asirit said.
This is based on the number of applications with the power regulator for a certificate of compliance (COC) for FIT, she said.
“Definitely, it will be fully subscribed… based on what the numbers we’re seeing now,” Asirit said.
Given the appetite for solar developments, the government will not extend the deadline for solar developers to complete their projects, National Renewable Energy Board (NREB) vice chairman Ernesto Pantangco said.
“Based on the DOE (Department of Energy) circular, we increased the solar installation target from 50 to 500 MW, provided the 500 MW will be met until the March 15, deadline,” he said.
FIT is a set of incentives given to renewable energy players.
Solar power developers are required to finish their projects on or before the March 15 deadline, which will be given a certificate of endorsement (COE) from the DOE and forwarded to the ERC.
Once issued with a COC-FIT by ERC, the solar developers are entitled to receive a FIT rate of P8.69 per kilowatt-hour (kWh), among other incentives.
But even as the March 15 deadline drew close, Asirit said the DOE was still inspecting the solar projects.
“A FIT-eligible COC is dependent on whether or not it gets a certificate of endorsement from DOE. Be that as it may, we are aware that the DOE is mindful of the subscription,” the ERC official said.
Those projects that will not be accommodated in the solar installation will not be under FIT.
“The project developers can still apply for a COC, and they should. Otherwise, they cannot supply to the grid and they will not be recognized as trading participant by WESM (Wholesale Electricity Spot Market),” Asirit said.