April 23, 2017, 1:24 pm
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1 Philippine Peso = 0.07374 UAE Dirham
1 Philippine Peso = 2.52309 Albanian Lek
1 Philippine Peso = 0.03569 Neth Antilles Guilder
1 Philippine Peso = 0.30873 Argentine Peso
1 Philippine Peso = 0.02664 Australian Dollar
1 Philippine Peso = 0.03594 Aruba Florin
1 Philippine Peso = 0.04016 Barbados Dollar
1 Philippine Peso = 1.60442 Bangladesh Taka
1 Philippine Peso = 0.03655 Bulgarian Lev
1 Philippine Peso = 0.00757 Bahraini Dinar
1 Philippine Peso = 34.11145 Burundi Franc
1 Philippine Peso = 0.02008 Bermuda Dollar
1 Philippine Peso = 0.02805 Brunei Dollar
1 Philippine Peso = 0.13815 Bolivian Boliviano
1 Philippine Peso = 0.0632 Brazilian Real
1 Philippine Peso = 0.02008 Bahamian Dollar
1 Philippine Peso = 1.29719 Bhutan Ngultrum
1 Philippine Peso = 0.20863 Botswana Pula
1 Philippine Peso = 402.00804 Belarus Ruble
1 Philippine Peso = 0.04011 Belize Dollar
1 Philippine Peso = 0.02704 Canadian Dollar
1 Philippine Peso = 0.02006 Swiss Franc
1 Philippine Peso = 13.04137 Chilean Peso
1 Philippine Peso = 0.13822 Chinese Yuan
1 Philippine Peso = 57.18876 Colombian Peso
1 Philippine Peso = 11.03896 Costa Rica Colon
1 Philippine Peso = 0.02008 Cuban Peso
1 Philippine Peso = 2.06888 Cape Verde Escudo
1 Philippine Peso = 0.5051 Czech Koruna
1 Philippine Peso = 3.56627 Djibouti Franc
1 Philippine Peso = 0.13952 Danish Krone
1 Philippine Peso = 0.94478 Dominican Peso
1 Philippine Peso = 2.206 Algerian Dinar
1 Philippine Peso = 0.29345 Estonian Kroon
1 Philippine Peso = 0.36245 Egyptian Pound
1 Philippine Peso = 0.45582 Ethiopian Birr
1 Philippine Peso = 0.01876 Euro
1 Philippine Peso = 0.04196 Fiji Dollar
1 Philippine Peso = 0.01568 Falkland Islands Pound
1 Philippine Peso = 0.01569 British Pound
1 Philippine Peso = 0.0829 Ghanaian Cedi
1 Philippine Peso = 0.87952 Gambian Dalasi
1 Philippine Peso = 184.91968 Guinea Franc
1 Philippine Peso = 0.14719 Guatemala Quetzal
1 Philippine Peso = 4.09759 Guyana Dollar
1 Philippine Peso = 0.15613 Hong Kong Dollar
1 Philippine Peso = 0.47028 Honduras Lempira
1 Philippine Peso = 0.1391 Croatian Kuna
1 Philippine Peso = 1.33133 Haiti Gourde
1 Philippine Peso = 5.8753 Hungarian Forint
1 Philippine Peso = 267.48997 Indonesian Rupiah
1 Philippine Peso = 0.07385 Israeli Shekel
1 Philippine Peso = 1.29783 Indian Rupee
1 Philippine Peso = 23.71486 Iraqi Dinar
1 Philippine Peso = 651.40564 Iran Rial
1 Philippine Peso = 2.20783 Iceland Krona
1 Philippine Peso = 2.5753 Jamaican Dollar
1 Philippine Peso = 0.01423 Jordanian Dinar
1 Philippine Peso = 2.19129 Japanese Yen
1 Philippine Peso = 2.07028 Kenyan Shilling
1 Philippine Peso = 1.36084 Kyrgyzstan Som
1 Philippine Peso = 79.66466 Cambodia Riel
1 Philippine Peso = 9.2757 Comoros Franc
1 Philippine Peso = 18.07229 North Korean Won
1 Philippine Peso = 22.78434 Korean Won
1 Philippine Peso = 0.00611 Kuwaiti Dinar
1 Philippine Peso = 0.01647 Cayman Islands Dollar
1 Philippine Peso = 6.28574 Kazakhstan Tenge
1 Philippine Peso = 164.75904 Lao Kip
1 Philippine Peso = 30.24498 Lebanese Pound
1 Philippine Peso = 3.0512 Sri Lanka Rupee
1 Philippine Peso = 1.80723 Liberian Dollar
1 Philippine Peso = 0.26365 Lesotho Loti
1 Philippine Peso = 0.06122 Lithuanian Lita
1 Philippine Peso = 0.01246 Latvian Lat
1 Philippine Peso = 0.02835 Libyan Dinar
1 Philippine Peso = 0.20071 Moroccan Dirham
1 Philippine Peso = 0.38625 Moldovan Leu
1 Philippine Peso = 1.14859 Macedonian Denar
1 Philippine Peso = 27.08835 Myanmar Kyat
1 Philippine Peso = 48.45382 Mongolian Tugrik
1 Philippine Peso = 0.16082 Macau Pataca
1 Philippine Peso = 7.16546 Mauritania Ougulya
1 Philippine Peso = 0.70542 Mauritius Rupee
1 Philippine Peso = 0.30622 Maldives Rufiyaa
1 Philippine Peso = 14.41325 Malawi Kwacha
1 Philippine Peso = 0.37828 Mexican Peso
1 Philippine Peso = 0.08831 Malaysian Ringgit
1 Philippine Peso = 0.26428 Namibian Dollar
1 Philippine Peso = 6.3253 Nigerian Naira
1 Philippine Peso = 0.59764 Nicaragua Cordoba
1 Philippine Peso = 0.1732 Norwegian Krone
1 Philippine Peso = 2.07129 Nepalese Rupee
1 Philippine Peso = 0.02864 New Zealand Dollar
1 Philippine Peso = 0.00773 Omani Rial
1 Philippine Peso = 0.02008 Panama Balboa
1 Philippine Peso = 0.06511 Peruvian Nuevo Sol
1 Philippine Peso = 0.0638 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.10482 Pakistani Rupee
1 Philippine Peso = 0.08003 Polish Zloty
1 Philippine Peso = 111.06627 Paraguayan Guarani
1 Philippine Peso = 0.07311 Qatar Rial
1 Philippine Peso = 0.08518 Romanian New Leu
1 Philippine Peso = 1.12932 Russian Rouble
1 Philippine Peso = 16.43855 Rwanda Franc
1 Philippine Peso = 0.0753 Saudi Arabian Riyal
1 Philippine Peso = 0.15732 Solomon Islands Dollar
1 Philippine Peso = 0.26412 Seychelles Rupee
1 Philippine Peso = 0.13373 Sudanese Pound
1 Philippine Peso = 0.18063 Swedish Krona
1 Philippine Peso = 0.02806 Singapore Dollar
1 Philippine Peso = 0.01568 St Helena Pound
1 Philippine Peso = 0.4459 Slovak Koruna
1 Philippine Peso = 149.5984 Sierra Leone Leone
1 Philippine Peso = 10.98394 Somali Shilling
1 Philippine Peso = 459.6968 Sao Tome Dobra
1 Philippine Peso = 0.17514 El Salvador Colon
1 Philippine Peso = 10.34096 Syrian Pound
1 Philippine Peso = 0.26384 Swaziland Lilageni
1 Philippine Peso = 0.69016 Thai Baht
1 Philippine Peso = 0.04869 Tunisian Dinar
1 Philippine Peso = 0.046 Tongan paʻanga
1 Philippine Peso = 0.0732 Turkish Lira
1 Philippine Peso = 0.13453 Trinidad Tobago Dollar
1 Philippine Peso = 0.6093 Taiwan Dollar
1 Philippine Peso = 44.75904 Tanzanian Shilling
1 Philippine Peso = 0.53956 Ukraine Hryvnia
1 Philippine Peso = 72.36948 Ugandan Shilling
1 Philippine Peso = 0.02008 United States Dollar
1 Philippine Peso = 0.57048 Uruguayan New Peso
1 Philippine Peso = 73.69478 Uzbekistan Sum
1 Philippine Peso = 0.20029 Venezuelan Bolivar
1 Philippine Peso = 456.12451 Vietnam Dong
1 Philippine Peso = 2.15361 Vanuatu Vatu
1 Philippine Peso = 0.05189 Samoa Tala
1 Philippine Peso = 12.29578 CFA Franc (BEAC)
1 Philippine Peso = 0.05422 East Caribbean Dollar
1 Philippine Peso = 12.20321 CFA Franc (BCEAO)
1 Philippine Peso = 2.22711 Pacific Franc
1 Philippine Peso = 5.01908 Yemen Riyal
1 Philippine Peso = 0.26447 South African Rand
1 Philippine Peso = 104.20683 Zambian Kwacha
1 Philippine Peso = 7.26707 Zimbabwe dollar

ERC to investigate solar subsidy award

The Energy Regulatory Commission (ERC) said it will investigate the second phase of subsidy awards for solar projects after participants complained of “irregularities.”

“We will investigate because stakeholders are forcing the Department of Energy (DOE) to make a clear stand, saying DOE was not transparent enough in awarding the feed in tariff (FIT),” said Alfredo Non, ERC commissioner.

FIT is the rate the government assures solar energy providers will be paid on top of their being the priority in joining the wholesale electricity market.

Non said while investigation is ongoing, only “regular COCs (certificates of compliance) will be given to those who applied for FIT-COCs.” 

A COC is needed before a power plant can start commercial operations. It is a certificate that says operators can produce safe and dependable energy. A FIT-COC, on the other hand, allows FIT-certified plants to collect their fixed power rates under the law.

FIT-eligible plants are assured of fixed rates, currently at P9.68 per kilowatt hour (kWh) for the first batch of solar projects and P8.69 per kWh for the second batch.

The Philippine Solar Power Alliance (PSPA) complained the DOE “deliberated far too long” in announcing those who qualified for the second phase of FIT. 

Since the game to qualify for the FIT is a “race,” first to be operational gets the subsidized rate, many companies were operational before the deadline of March 15, 2016.

But PSPA complained the DOE released the names of the qualified companies late in June or three months after the deadline.

The stakeholders then said the choice was not “transparent enough and took too long.” They feared that “irregularities” could have happened.

They also complained that far too many participants who joined the race did not qualify.

The stakeholders said the “race” format led to oversubscription – an event they said was caused by the government.

Non said ERC will be waiting for DOE’s final say on the issue. ERC will verify information submitted by involved companies, such as the dates that are crucial to be qualified under the FIT.

Last June, a total of 17 projects with an overall capacity of 417.05 megawatts (MW) were identified by the DOE to be qualified for the second round which now brings the total capacity of solar projects benefitting from FIT at 525.95 MW.

Among the biggest plants that were included in the list are the 132.5 MW of Helios Solar Energy Corp. in Negros Occidental, 63.3 MW of Solar Philippines in Batangas and the 50.07 MW of PetroSolar Corp. in Tarlac.

Other projects that were included in the list are the 2.04 MW from Absolut Distillers Inc., 2.66 MW from the second phase of Energy Development Corp., 5.02 MW from Solar Powered Agri-Rural Communities Corp., 6.23 MW from Vogt Philippine Solar Energy One Inc., 8.5 MW from Valenzuela Solar Energy Inc., 10.26 MW from First Cabanatuan Renewable Ventures Inc., 10.49 MW from Asian Greenergy Corp., 13.14 MW from RASLAG Corp., 14.51 MW from YH Green Eenrgy Inc., 15 MW from Bulacan Solar Energy Corp., 18 MW from Monte Solar Energy Inc., 20 MW from Mirae Asia Energy Corp., 22.33 MW from Enfinity Philippine Renewable Resources Inc. and 23 MW from San Carlos Solar Energy Inc. phase three.

In the first round of FIT for solar, seven solar plants with a total capacity of 108.9 MW were approved with a higher incentive rate.

Industry sources have said as much as 800 MW of solar projects were developed in hopes of being qualified under the said incentive but only the first 500 MW were included.

The PSPA already suggested to government for it to move away from its current race setup in awarding FIT incentives to avoid oversubscription like what was experienced by the solar power industry.

“The build first policy is structured for an oversubscription because once you do not control the issuance of the contracts from the beginning, the oversubscription is inevitable. There has to be a review of the build first. FIT 2 (for solar is) a glaring example of how the effect of build first really hit investors,” said Tetchi Capellan, PSPA president.

As of first half of the year, the total installed capacity of solar power plants is at 684 MW, a 314.5 percent growth compared to the previous year’s 165 MW.
 
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