Economy

DoE endorses 149 energy projects of national significance worth P795 billion

The Department of Energy (DoE) said it has certified 149 energy projects of national significance (EPNS) to date, with the approved projects involving investment of P795.52 billion.

An EPNS designation for major projects covering power generation, transmission or ancillary services entitles the proponent to expedited permits, having been deemed in line with the DoE’s objectives as set out in the Philippine Energy Plan.

“Out of 399 received applications, 149 were certified as CEPNS while 35 applications are still under evaluation,” the DoE said on its website, citing developments as of Jan. 20.

It also found 76 to be “non-compliant” in terms of documentary requirements while 139 were rejected.

Executive Order No. 30 sets the qualifying standard for EPNS status at a capital investment of at least P3.5 billion, with the potential to contribute to economic development and the balance of payments, or have an impact on the environment.

In a separate advisory Friday, the DoE said that 49% of EPNS applications came from coal, diesel or natural gas power plants. Renewable energy plants accounted for 27%, and transmission networks 18%.

Last month, the DoE said that it suspended the issuance of the EPNS certificates to “evaluate the department’s effectiveness in securing regulatory requirements of energy projects.”

“All applications… will be automatically migrated to the Energy Virtual One-Stop Shop (EVOSS) System,” Energy Secretary Alfonso G. Cusi said in an advisory that took effect on Dec. 10. The EVOSS is a web-based monitoring system for energy applications and a repository of project-related information and permits.

In its November update, the DoE approved four projects of national significance. These are Batangas Clean Energy’s Liquified Natural Gas (LNG) Import Terminal Project and Combined Cycle Gas Turbine Power Plant Project; Bacman Geothermal Inc.’s Bacon-Manito Geothermal Expansion Project; and Excelerate Energy’s Luzon LNG. — Angelica Y. Yang

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Your daily news source covering investing ideas, market stocks, business, retirement tips from Wall St. to Silicon Valley.

Disclaimer:

TheProficientInvestor.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 TheProficientInvestor. All Rights Reserved.

To Top

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!