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Mindanao spot market to open doors for renewables

January 12, 2016 | Editor

Mindanao will attract more investment in renewable energy (RE) and maximize their potential when a spot market for power is implemented here, a top official of the Mindanao Development Authority (MinDA) said. Romeo M. Montenegro, MinDA head for public affairs and a member of the Mindanao Power Monitoring Committee (MPMC), said it is crucial to set up the Mindanao Wholesale Electricity Spot Market (WESM) soon given projections of a power surplus beginning this year. “Mindanao is expected to have new coal-fired projects that will result in power surplus. Hopefully, by then we will already have a power spot market similar to the WESM in Luzon,” said Mr. Montenegro. MinDA is aiming for a 50-50 balanced mix between RE and fossil fuel by 2020. There are currently 290 RE applications in Mindanao — consisting of hydro, geothermal, solar and biomass — with a potential capacity of at least 2,400 megawatts (MW).

 

http://www.bworldonline.com/content.php?section=Nation&title=mindanao-spot-market-to-open-doors-for-renewables&id=121240

 

From Business World

By Carmelito Q. Francisco

January 11, 2016

 

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