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Article: Philippines: Philippines DOE, 18 firms sign renewable projects worth $2.2bn.
- Article from:
- TendersInfo
- Article date:
- October 27, 2009
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Byline: sanjayV03
The Philippines Department of Energy (DOE) has signed $2.2bn worth of new renewable energy (RE) contracts with 18 power companies.
"We are very happy to note that the Renewable Energy Act is working very well as reflected in the enthusiasm of investors in the RE development program of the country," said Rep. Miguel Arroyo, chairman of the House Committee on Energy.
He said the further development of RE projects will eventually redound to savings which will be passed on to consumers.
"We are optimistic that these projects will later on result to cheaper power for our people. These RE projects present a win-win solution ...