MANILA, Philippines - The Philippines needs billions of pesos in investments for the energy sector in the next four years to be able to continue the various projects put in place across Luzon, Visayas and Mindanao, the Department of Energy (DOE) said in a report.
The DOE pegged the required investment for the energy sector – to be raised from both the private sector and the government – at P53.285 billion in 2013 to be able to implement the government’s policy thrusts for the year.
These include maintaining 60 percent energy self-sufficiency; climate proof the energy system; promote low-carbon future by rolling out electric vehicles and expanding energy labeling program; promoting and adopting smart technologies; implementation of strategic infrastructure; and formulating geographic energy plans.
Other plans and projects include energizing 9,860 households under the household electrification program (HEP) and 4,982 sitios under the Sitio Electrification Program; and deploying 20,000 electric tricycle units from 2013 to 2014 as well as 20,000 compressed natural gas buses.
To ensure that 783.7 megawatts of power would go online this year, the Energy department said the Luzon grid would need 737.7 MW, 38-MW for the Mindanao grid and 8 MW for the Visayas grid.
For 2014, the required investment is P280.733 billion, P257.820 billion for 2015 and P182.098 billion for 2016, the DOE data showed.
In Mindanao, the Energy department said the government would continue to promote energy exploration in different areas including those in the Sulu Sea and Cotabato.
Coal areas in Mindanao offered by the government to the private sector include Agusan del Norte, Misamis Oriental, Agusan del Sur, Surigao del Sur, Compostela Valley, Davao Oriental, Lanao del Sur, Lanao del Norte, South Cotabato, Sultan Kudarat, Saranggani, Zamboanga del Norte and Zamboanga Sibugay.
In all, the Aquino administration hopes to complete the Mindanao Energy Plan – the energy roadmap for the region -- by the third quarter of 2013.
Data from the Energy department showed that Mindanao would need an additional 1,600 MW by 2030.