Seven companies active in the ocean energy sector are looking to exploit the ocean energy generation potential of the Philippines.
The interested companies, most based in the UK, are SgurrEnergy, Albatern, OpenHydro, Carbon Trust, Bell Pirie Power Corp., IT Power India and Oceantera, according to Business Mirror, a Manila-based news provider.
The companies are working with the UK Trade and Investment in Manila to identify business opportunities for large-scale renewable energy projects, with special emphasis on ocean energy sector, while waiting for the Philippines’ Energy Regulatory Commission (ERC) to set up a feed-in tariff for the ocean energy projects, Business Mirror reports.
Debora Layugan, ERC Director for Market Operations Service, confirmed that the urgent motion to set the feed-in tariff rate has already been filed by the National Renewable Energy Board, according to the Standard.