BUSINESS groups have welcomed the Department of Energy ’s decision to amend provisions of Renewable Energy Act of 2008 to allow more foreign players to participate in the Philippine renewable energy sector.
“The renewable energy sector has always been an interest for many German investors when they consider doing business in the Philippines,” said GPCCI Executive Director Christopher Zimmer. In a separate statement, the Makati Business Club also lauded DOE Secretary Raphael P.M. Lotilla and his team at the DOE for the promulgation of Department Circular No. 2022-11-0034, which prescribes the amendment to Section 19 of Department Circular 2009-05-0008 titled Rules and Regulations Implementing Republic Act No. 9513.
Following the amendment of Section 19 of the IRR of Republic Act No. 9513 or Renewable Energy Act of 2008, foreign-owned entities may engage in the exploration, development, and utilization of the country’s renewable resources such as solar, wind, biomass, ocean or tidal energy.
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