March 25, 2017, 4:25 pm
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1 Philippine Peso = 0.07295 UAE Dirham
1 Philippine Peso = 2.48788 Albanian Lek
1 Philippine Peso = 0.03556 Neth Antilles Guilder
1 Philippine Peso = 0.3095 Argentine Peso
1 Philippine Peso = 0.02607 Australian Dollar
1 Philippine Peso = 0.03556 Aruba Florin
1 Philippine Peso = 0.03973 Barbados Dollar
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1 Philippine Peso = 33.62574 Burundi Franc
1 Philippine Peso = 0.01986 Bermuda Dollar
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1 Philippine Peso = 0.13667 Bolivian Boliviano
1 Philippine Peso = 0.06237 Brazilian Real
1 Philippine Peso = 0.01986 Bahamian Dollar
1 Philippine Peso = 1.30066 Bhutan Ngultrum
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1 Philippine Peso = 0.02656 Canadian Dollar
1 Philippine Peso = 0.01978 Swiss Franc
1 Philippine Peso = 13.15634 Chilean Peso
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1 Philippine Peso = 57.86254 Colombian Peso
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1 Philippine Peso = 0.01986 Cuban Peso
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1 Philippine Peso = 0.49851 Czech Koruna
1 Philippine Peso = 3.5151 Djibouti Franc
1 Philippine Peso = 0.13724 Danish Krone
1 Philippine Peso = 0.93127 Dominican Peso
1 Philippine Peso = 2.1644 Algerian Dinar
1 Philippine Peso = 0.28863 Estonian Kroon
1 Philippine Peso = 0.35856 Egyptian Pound
1 Philippine Peso = 0.45093 Ethiopian Birr
1 Philippine Peso = 0.01845 Euro
1 Philippine Peso = 0.04108 Fiji Dollar
1 Philippine Peso = 0.01589 Falkland Islands Pound
1 Philippine Peso = 0.01592 British Pound
1 Philippine Peso = 0.08837 Ghanaian Cedi
1 Philippine Peso = 0.86869 Gambian Dalasi
1 Philippine Peso = 183.55185 Guinea Franc
1 Philippine Peso = 0.1458 Guatemala Quetzal
1 Philippine Peso = 4.10191 Guyana Dollar
1 Philippine Peso = 0.1543 Hong Kong Dollar
1 Philippine Peso = 0.46583 Honduras Lempira
1 Philippine Peso = 0.13612 Croatian Kuna
1 Philippine Peso = 1.34644 Haiti Gourde
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1 Philippine Peso = 264.73977 Indonesian Rupiah
1 Philippine Peso = 0.07242 Israeli Shekel
1 Philippine Peso = 1.29991 Indian Rupee
1 Philippine Peso = 23.46047 Iraqi Dinar
1 Philippine Peso = 644.02066 Iran Rial
1 Philippine Peso = 2.20501 Iceland Krona
1 Philippine Peso = 2.54927 Jamaican Dollar
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1 Philippine Peso = 2.21154 Japanese Yen
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1 Philippine Peso = 1.37288 Kyrgyzstan Som
1 Philippine Peso = 78.68693 Cambodia Riel
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1 Philippine Peso = 17.87843 North Korean Won
1 Philippine Peso = 22.29479 Korean Won
1 Philippine Peso = 0.00604 Kuwaiti Dinar
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1 Philippine Peso = 6.28526 Kazakhstan Tenge
1 Philippine Peso = 163.01152 Lao Kip
1 Philippine Peso = 29.90465 Lebanese Pound
1 Philippine Peso = 3.01549 Sri Lanka Rupee
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1 Philippine Peso = 0.24851 Lesotho Loti
1 Philippine Peso = 0.06056 Lithuanian Lita
1 Philippine Peso = 0.01233 Latvian Lat
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1 Philippine Peso = 0.38468 Moldovan Leu
1 Philippine Peso = 1.12515 Macedonian Denar
1 Philippine Peso = 27.19507 Myanmar Kyat
1 Philippine Peso = 48.70878 Mongolian Tugrik
1 Philippine Peso = 0.15892 Macau Pataca
1 Philippine Peso = 7.09178 Mauritania Ougulya
1 Philippine Peso = 0.69785 Mauritius Rupee
1 Philippine Peso = 0.30671 Maldives Rufiyaa
1 Philippine Peso = 14.24096 Malawi Kwacha
1 Philippine Peso = 0.3761 Mexican Peso
1 Philippine Peso = 0.08802 Malaysian Ringgit
1 Philippine Peso = 0.24708 Namibian Dollar
1 Philippine Peso = 6.25745 Nigerian Naira
1 Philippine Peso = 0.58244 Nicaragua Cordoba
1 Philippine Peso = 0.16898 Norwegian Krone
1 Philippine Peso = 2.0729 Nepalese Rupee
1 Philippine Peso = 0.02831 New Zealand Dollar
1 Philippine Peso = 0.00765 Omani Rial
1 Philippine Peso = 0.01986 Panama Balboa
1 Philippine Peso = 0.06437 Peruvian Nuevo Sol
1 Philippine Peso = 0.06286 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.08244 Pakistani Rupee
1 Philippine Peso = 0.0787 Polish Zloty
1 Philippine Peso = 111.14024 Paraguayan Guarani
1 Philippine Peso = 0.07233 Qatar Rial
1 Philippine Peso = 0.08402 Romanian New Leu
1 Philippine Peso = 1.13951 Russian Rouble
1 Philippine Peso = 16.2352 Rwanda Franc
1 Philippine Peso = 0.07449 Saudi Arabian Riyal
1 Philippine Peso = 0.15454 Solomon Islands Dollar
1 Philippine Peso = 0.26917 Seychelles Rupee
1 Philippine Peso = 0.13244 Sudanese Pound
1 Philippine Peso = 0.17566 Swedish Krona
1 Philippine Peso = 0.02783 Singapore Dollar
1 Philippine Peso = 0.0159 St Helena Pound
1 Philippine Peso = 0.44112 Slovak Koruna
1 Philippine Peso = 142.70957 Sierra Leone Leone
1 Philippine Peso = 10.90584 Somali Shilling
1 Philippine Peso = 452.14739 Sao Tome Dobra
1 Philippine Peso = 0.17327 El Salvador Colon
1 Philippine Peso = 10.23004 Syrian Pound
1 Philippine Peso = 0.24791 Swaziland Lilageni
1 Philippine Peso = 0.68872 Thai Baht
1 Philippine Peso = 0.04503 Tunisian Dinar
1 Philippine Peso = 0.04577 Tongan paʻanga
1 Philippine Peso = 0.0722 Turkish Lira
1 Philippine Peso = 0.13328 Trinidad Tobago Dollar
1 Philippine Peso = 0.60552 Taiwan Dollar
1 Philippine Peso = 44.25904 Tanzanian Shilling
1 Philippine Peso = 0.53754 Ukraine Hryvnia
1 Philippine Peso = 71.25546 Ugandan Shilling
1 Philippine Peso = 0.01986 United States Dollar
1 Philippine Peso = 0.55781 Uruguayan New Peso
1 Philippine Peso = 70.42114 Uzbekistan Sum
1 Philippine Peso = 0.19815 Venezuelan Bolivar
1 Philippine Peso = 451.90703 Vietnam Dong
1 Philippine Peso = 2.11462 Vanuatu Vatu
1 Philippine Peso = 0.05075 Samoa Tala
1 Philippine Peso = 12.09416 CFA Franc (BEAC)
1 Philippine Peso = 0.05364 East Caribbean Dollar
1 Philippine Peso = 12.176 CFA Franc (BCEAO)
1 Philippine Peso = 2.18852 Pacific Franc
1 Philippine Peso = 4.96524 Yemen Riyal
1 Philippine Peso = 0.24804 South African Rand
1 Philippine Peso = 103.08899 Zambian Kwacha
1 Philippine Peso = 7.18911 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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