Energy Undersecretary Felix William Fuentebella encourages investors to take advantage of energy investment potential in the Visayas as the government implements investor-friendly policies. |Irene R. Sino Cruz
CEBU CITY–The Department of Energy is calling for investments in energy project to attain the 43,765 megawatts targeted power supply for the Philippines by 2040.
The Duterte administration had come up with policies to make investing easier, said Energy Undersecretary Felix William Fuentebella.
Last March 8, President Rodrigo Duterte signed the Republic Act 11234, which aims to modernize and streamline the permitting process of process of power generation, transmission and distribution projects in the country.
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The law mandates the creation of the Energy Virtual One Stop Shop (Evoss).
Fuentebella said that the Evoss would be an online system where prospective developer could apply or monitor and receive all the needed permits and applications.
The Evoss would allow the developer to submit all documentary requirements as well as pay for charges and fees, he added.
Energy Secretary Alfonso Cusi signed the implementing rules and regulations for the Evoss Act on Tuesday, May 28, Fuentebella said.
Government officials and employees, who fail to comply with the strict time frame to act on pending applications will face administrative sanctions.
On the other hand, private entities like system and market operators, who fail to act within the time frame will be fined P100,000 for each day of delay.
On the other hand, the undersecretary said that based on the Energy Trilemma Index, the Philippines ranked number one in sustainability, 70th in security and 96th in equity among 125 countries.
He added that renewable energy comprised 33 percent of the country’s total energy supply./dbs