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RP Government bullish on renewable energy sector
(Source: DTI Newsbits)

The Department of Energy (DOE) expects to draw in as much as $27 billion in new investments in the country's renewable energy sector over the next 20 years.

In a report, the DOE said the estimated amount may be able to produce 24,000 megawatts (MW) from various renewable energy sources like geothermal, hydro and mini hydro, wind, solar, ocean and biomass bagasse.

Of the $27 billion, the DOE said it expects Luzon to attract $16.14 billion, which may be used to produce 8,072.3 MW of electricity from renewable sources.

The Visayas is expected to bring in some $4.9 billion to produce 2,442.6 MW of renewable energy, and Mindanao, $5.93 billion for 2,963.6 MW. (Philippine Daily Inquirer)

Survey: RP firms considered ‘friendly’ to the environment

Despite the global downturn, many privately held businesses are still prepared to follow "green" practices, according to a study by international audit and advisory firm Grant Thornton, even if those measures have a negative effect on the bottom line.

The results of the study were released by audit firm Punongbayan & Araullo (P&A), the Philippine member firm within Grant Thornton.

Respondents were asked how environmentally friendly they consider their business community to be. The Philippines emerged at the top, with 78% of local firms saying they consider their business community to be "very friendly" or "friendly" to the environment.

"This is a very encouraging sign, that the Philippine business community is taking the ’green movement’ seriously as opposed to just treating it as a fad or a trend," said Gregorio S. Navarro, managing partner and chief executive officer of P&A, in a statement. More...

RP eyes $10-billion investments in renewable energy 
By Donnabelle L. Gatdula (Source:

With the signing of the implementing rules and regulations (IRR) of the Renewable Energy Act, the Philippines would be able to generate up to $10 billion in fresh capital from renewable energy development projects over the next 10 years, said Energy Secretary Angelo Reyes.

He said there are already a number of interested investors that have lined up for pre-qualification at the Department of Energy (DOE).

“Our objective is to double the power being generated from renewable energy sources from 4,500 megawatts to 9,000 MW in 10 years,” he said.

Based on estimates, a renewable energy project may need a capital investment of $1 million to $2 million per megawatt.

Reyes said the Philippines has a capacity potential of 200,000 MW from renewable energy.

“Investors are aggressively coming in as they see the potential of RE development in the country,” he said.

Healing in the heart of asia: The Philippines rises as the new hub

If you build it, they will come.

One can surmise how much those famous words have helped push many ventures to fruition. Whether it’s on celluloid or in real life, there’s no arguing with the timeless axiom’s weight and effectiveness in simply getting things done. After all, the formula behind it is simple: vision plus pro-activeness plus faith equals success.

Given that, it is apparent that such a formula was at work during the 4th World Health Tourism Congress (WHCT) hosted by the DOT (Department of Tourism). In light of the DOT’s efforts to promote the Philippines as the new medical hub of Asia, the event brought corporate and institutional buyers from all over the world to network with local solution providers.

So true to the adage above, it was a clear case of “if you host it, they will come” – because come they did. A number of foreign delegates flew in for the event in search of potential partners who can provide quality and affordable healthcare alternatives for their fellow citizens.

Business News

Philippine Business Report - April 2009
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For Philippine trade news and market developments, visit Tradeline Philippines.