(Bloomberg) — The Philippines will temporarily halt processing of new applications for renewable energy projects after it revamps rules amid a flood of contracts as the government pushes green power.
The Department of Energy will not review applications for five months from June 25 while it enhances a one-stop shop system with the implementation of the new guidelines from that date, it said in a statement on Friday.
The Southeast Asian nation currently has 1,300 renewable energy service contracts, equivalent to 62 gigawatts of potential capacity, Energy Undersecretary Sharon Garin said in a briefing.
“That’s more than enough to cover our needs in the future to reach the 35% and 50% targets of the government,” Garin said, referring to the share of green energy in the country’s power mix by 2030 and 2040, respectively. Renewable energy made up 22% of the nation’s energy mix in 2022, based on latest available government…
