Investments on renewable energy projects in the Philippines are foreseen. These investments – worth some 850 million US dollar – are in anticipation of the (passage) of the Renewable Energy Bill. The pending investments on these projects involve the tapping of the country’s geothermal and wind resources. The proposed geothermal energy projects consist of a 20 MW project in Nasulo, Dumaguete, 50 MW in South Cotabato, 50 MW in the Bicol area, 20 MW in Mabini, Batangas, 40 MW in Compostela Valley and a 40 MW project in Biliran. On wind energy projects the proposed plans include the 80 MW and 40 MW projects in Ilocos Norte. A 10 MW solar energy project in Mindanao, worth 50 million US dollar is also pending. The time looks ripe for renewable energy, because as renewable energy could accelerate electrification in off-grid areas, promote sustainable growth, and improve the country’s energy security. The energy mix in 2007 has already become 57.2 percent energy self-sufficient as of end 2007, with geothermal as the biggest indigenous energy source, accounting for 21.5 percent. Natural Gas accounted for 4.5 percent in mix. The country remains largely dependent on imported oil as well as imported coal, which accounted for the 31.8 percent and 11 percent, respectively, of the country’s energy mix in 2007. Natural gas and coal are dominant fuel sources for power generation in the country, with 60 percent. The renewables contribute 31 percent and oil nine percent to the power generation. The Philippines is the second largest producer of geothermal energy in the world.
