THE government is expected to generate an investment of more the P90 billion with the awarding of 87 renewable energy contracts for development of biomass, geothermal, solar, hydropower, ocean, and wind energy resources.

Energy Secretary Angelo Reyes signed the contracts, which covers 18 companies and pursuant to Republic Act 9513 otherwise known as Renewable Energy Act of 2008.

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Reyes said the new contracts involved five conversions from existing service contracts and agreements on geothermal and seventeen on hydropower.

The Energy chief noted that the new renewable energy projects composed the remainder of the contracts, which altogether are anticipated to generate a total of 4,042 megawatts (MW) of electricity, of which 1,257 MW constitute additional electric power capacity.

The conversions from existing geothermal agreements with foreign contractor Chevron Geothermal Philippine Holdings, Inc. were also initiated and endorsed to the Office of the President for approval.

Companies that were awarded the contracts are Deep Ocean Power Philippines, Inc. (DOPPI); Trans-Asia Renewable Energy Corp. (TAREC); Constellation Energy Corp (CEC); Century Peak Energy Corp.; PNOC-Renewables Corp.; Energy Development Corp. (EDC); First Gen Bukidnon Power Corp.; Luzon Hydro Corp.; Lucky PPH International, Inc.; First Gen Mindanao Hydro Power Corp.; AV Garcia Power Systems Corp.; Benguet Electric Cooperative, Inc.; Alternergy Philippine Holdings Corp. (APHC); DOST-Industrial Technology Development Institute; and HEDCOR, Inc.

“These companies were issued RE registration certificates on the day of the contract signing,” Reyes said.

As of January, new RE projects envisioned to be installed within the next five years now runs at 1,636 MW. Some 379 MW will come from the seven contracts issued to six RE developers in September 2009.

On the biofuels sector, the San Carlos Bioenergy, Inc. was the first to be registered under RA 9513, while Chemrez Technologies, Inc., Golden Asian Oil International Inc. and Leyte Agri Corp., were issued full accreditation under the Joint Administrative Order (JAO) 2008-1 of RA 9367 or the Biofuels Act of 2006.

Under the JAO, Cavite Biofuels was also granted a certificate of registration with notice to proceed with its bioethanol project in Magallanes, Cavite which will bring the country’s total annual bioethanol capacity to 73.3 million liters once its ethanol production facility becomes operational. (MSN/Sunnex)