Philippine’s Department of Energy (DOE) has invited US companies to invest in the country’s renewable and nuclear energy sector.
The companies have been invited to participate in the department’s Green Energy Option Program (GEOP) and Green Energy Auction Program (GEAP). The GEOP will allow its users that consume more than 100 kw of power to access retail energy suppliers that produce electricity from renewables, while GEAP enables eligible renewable energy (RE) developers to sell their production to the rest of the energy industry.
DOE’s key priority, as stated in its updated Philippine Energy Plan (PEP) 2018-2040, is to increase production of renewable and indigenous energy sources such as geothermal, hydro, and natural gas.