Philippines Renewables Report Q2 2015
BMI View: As energy demands continue to rise in the Philippines and fear of electricity shortfalls for the summer 2015 remain, the market has attracted a multitude of new projects - especially in the wind, solar and biomass sectors. While the geothermal energy market is largely saturated, we see the greatest potential for investors and growth in the wind, solar and biomassse sectors. However, increasing domestic coal production and the construction of new coal power plants question the scale of renewables growth in the future, despite ambitious emission targets by the government.
Key Trends And Developments
We forecast nNon-hHydropower renewables electricity generation to grow by over 712% year-onyear (y-o-y) in 2015, and non-hydropower renewables electricity capacity by over 138% y-o-y.
Maxpower International's 50MW wind power project in Pulupandan municipality, Negros Occidental, is likely to be completed in late 2015. The wind farm, which is 50% complete, is scheduled to be tested and commissioned in November 2015.
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