Philippines wants 80% of energy from renewables

The Philippines wants to get 80 per cent of its power in the next 20 years from renewable energy sources.

This is based on the government's upcoming blueprint on energy, according to Energy Secretary Jose Rene D. Almendras.

Under the renewable energy plan, the Department of Energy hopes that achieve this goal by 2015.

Almendras said that US$20.58 billion would be needed to develop the country’s renewable energy sources such as biomass, geothermal, solar, hydro, ocean and wind.

Based on studies made by prospective project proponents, at least 8,000 megawatts are expected to be generated from renewable energy sources between 2010 and 2030.

Under the 2011 Renewable Energy Plan, which is set to be completed in the first quarter of next year, the government will begin putting in place incentives and mechanisms to further entice investors in pushing through with their projects.