Oliver 14 0 0 4 min to read

GOCC focused on renewable energy development, is being pushed by Solon.

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Rufus Rodriguez, a representative representing Cagayan de Oro City’s 2nd District, worked to have a law creating the Philippine Renewable Energy Corp. (PREC), which would concentrate on the growth of renewable energy sources in the nation, passed on Thursday.

According to the Mindanao lawmaker’s House Bill No. 4205, Congress must pass legislation to help assure a stable, reasonably priced, and dependable supply of energy to sustain economic growth and improve the country’s well-being.

To reduce the nation’s reliance on imported fossil fuels and lessen the effects of climate change, Rodriguez argued that the government must play a more active role in ensuring an adequate supply of electricity via renewable energy sources.

According to him, it is also urgently necessary to start electrification initiatives in underserved, unserved, and missionary areas by developing RE sources.

Rodriguez stated that in light of Energy Secretary Raphael Lotilla’s warning on Monday that there would be a power shortage in the first half of 2023, it is imperative to construct RE projects.

He said that increasing current (RE) projects and identifying fresh sources will eventually increase supply.

He stated that HB 4205 covers biomass, solar, wind, geothermal, ocean energy, and hydropower as other RE resources.

The planned PREC receives the authority, responsibilities, projects, investments, cash, property, other assets, and staff of the defunct Philippine National Oil Corp.-Renewables Corp. (PNOC-RC).

The complex and facilities of the Agus-Pulangui Hydroelectric Power Plant, which are currently run and maintained by the National Power Corp., would also be inherited by the proposed new corporation.

By the proposed legislation, the complex of seven power stations situated across the Agus and Pulangui rivers in Lanao and Bukidnon shall not be subject to privatization. The units produce about 1,000 megawatts of power.

Rodriguez remarked, “The plants must be kept to produce a buffer supply for Mindanao.”

The bill also requires PREC to get an initial appropriation of PHP7 billion from the national budget.

The corporation’s permitted capital shall also include the Agus-Pulangui complex and its facilities, together with any assets it would receive from PNOC-RC in addition to the allotment.

A seven-person board of directors selected by the president for a three-year term would govern PREC.

President Ferdinand “Bongbong” Marcos Jr. has prioritized using renewable energy.

Marcos underlined the need to increase energy production in the nation in his State of the Nation Address (SONA), noting that “our energy demand greatly surpasses our reliable supply.”

“We must consider every alternative that might suit the situation in the Philippines. According to Marcos, we always keep the balance between conventional and renewable energy sources in mind while we look for new power sources.

“Renewable energy technology is developing quickly. He continued that many of these technologies are suitable for the Philippines.

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