DivinaLaw Senior Partner Atty. Jay Layug spoke on opportunities in Renewable Energy (RE) during the workshop “Capacity Building of Local Government Units on Local Energy Planning” held recently in Davao City.
Atty. Layug, who joined the event via Zoom, discussed relevant laws and recent legal updates related to RE. He also shared the fiscal and nonfiscal incentives that are available to attract investors.
“There are so many options for all our investors,” said Atty. Layug. “They can enter into a power supply agreement with the distribution utilities under the RPS (Renewable Portfolio Standards). They can enter into green energy option contracts. They can also participate in the green energy auction program which the DOE (Department of Energy) said they will do annually because we need capacities through the years. And, if you don’t have anything yet – no contract, nothing – you can put up a merchant plant and sell it to the wholesale electricity spot market because you are considered a priority dispatch based on the recent issuance by the DOE.”
The event was organized by Mindanao Renewable Energy Acceleration and Coordination Hub (MinREACH). The workshop sought to empower LGUs to conduct energy audits, formulate energy plans, foster better coordination between LGUs and energy sector stakeholders, and develop the capacity to implement energy efficiency and renewable energy initiatives.
Atty. Layug is the head of DivinaLaw’s energy practice group.
