Offshore

The country is hurrying to change its energy mix.

- ALEX MAGNO

We are aspiring to achieve 35 percent renewable energy (RE) by 2030. After that, we are targeting 50 percent RE by 2040.

Considering the time required to plan energy projects, the targets for raising the share of RE in our energy mix may be considered ambitious. But we want to lead in the global effort to reduce carbon emissions and stall climate change.

Although we contribute only about a third of a percentage point to total emissions, we harvest the most severe impacts of global warming. Recent natural calamities underscore this.

Recently, the Department of Energy (DOE) axed about 100 renewable energy projects. It might seem counter-intuitive, considering the pressing schedules to alter our energy mix. But on closer examination, the move makes sense.

Most of the RE projects axed by the DOE are considered nonperforming. A great number were considered stagnant in the pre-development phase.

DOE Undersecretary Rowena Cristina Guevara explained that the culling of projects on the table is necessary to concentrate on projects that can actually take off. "If any contracts are deemed nonperforming," she says, "we will open them up to new developers who can effectively bring these projects into fruition. This strategy not only accelerates the development timeline but also strengthens investor confidence in the country's renewable energy goals."

The DOE hopes that with the updated regulations released last June, better productivity and adherence to timelines could be achieved. By purging non-performers from the list, our energy authorities may clear the pipelines. More viable RE projects may move ahead with full government support.