May 28, 2017, 7:02 am
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1 Philippine Peso = 0.07372 UAE Dirham
1 Philippine Peso = 2.41289 Albanian Lek
1 Philippine Peso = 0.03568 Neth Antilles Guilder
1 Philippine Peso = 0.32234 Argentine Peso
1 Philippine Peso = 0.02694 Australian Dollar
1 Philippine Peso = 0.03594 Aruba Florin
1 Philippine Peso = 0.04014 Barbados Dollar
1 Philippine Peso = 1.61883 Bangladesh Taka
1 Philippine Peso = 0.03501 Bulgarian Lev
1 Philippine Peso = 0.00757 Bahraini Dinar
1 Philippine Peso = 34.21016 Burundi Franc
1 Philippine Peso = 0.02007 Bermuda Dollar
1 Philippine Peso = 0.02775 Brunei Dollar
1 Philippine Peso = 0.1385 Bolivian Boliviano
1 Philippine Peso = 0.06559 Brazilian Real
1 Philippine Peso = 0.02007 Bahamian Dollar
1 Philippine Peso = 1.29566 Bhutan Ngultrum
1 Philippine Peso = 0.20514 Botswana Pula
1 Philippine Peso = 401.84665 Belarus Ruble
1 Philippine Peso = 0.0401 Belize Dollar
1 Philippine Peso = 0.02701 Canadian Dollar
1 Philippine Peso = 0.01958 Swiss Franc
1 Philippine Peso = 13.41871 Chilean Peso
1 Philippine Peso = 0.13757 Chinese Yuan
1 Philippine Peso = 58.49057 Colombian Peso
1 Philippine Peso = 11.65616 Costa Rica Colon
1 Philippine Peso = 0.02007 Cuban Peso
1 Philippine Peso = 1.98153 Cape Verde Escudo
1 Philippine Peso = 0.47496 Czech Koruna
1 Philippine Peso = 3.56443 Djibouti Franc
1 Philippine Peso = 0.13368 Danish Krone
1 Philippine Peso = 0.94018 Dominican Peso
1 Philippine Peso = 2.17375 Algerian Dinar
1 Philippine Peso = 0.28102 Estonian Kroon
1 Philippine Peso = 0.3623 Egyptian Pound
1 Philippine Peso = 0.45965 Ethiopian Birr
1 Philippine Peso = 0.01796 Euro
1 Philippine Peso = 0.04169 Fiji Dollar
1 Philippine Peso = 0.01563 Falkland Islands Pound
1 Philippine Peso = 0.01565 British Pound
1 Philippine Peso = 0.08608 Ghanaian Cedi
1 Philippine Peso = 0.90225 Gambian Dalasi
1 Philippine Peso = 182.35648 Guinea Franc
1 Philippine Peso = 0.14716 Guatemala Quetzal
1 Philippine Peso = 4.09595 Guyana Dollar
1 Philippine Peso = 0.15642 Hong Kong Dollar
1 Philippine Peso = 0.46989 Honduras Lempira
1 Philippine Peso = 0.13267 Croatian Kuna
1 Philippine Peso = 1.33601 Haiti Gourde
1 Philippine Peso = 5.51927 Hungarian Forint
1 Philippine Peso = 267.16178 Indonesian Rupiah
1 Philippine Peso = 0.0717 Israeli Shekel
1 Philippine Peso = 1.29566 Indian Rupee
1 Philippine Peso = 23.70534 Iraqi Dinar
1 Philippine Peso = 651.18426 Iran Rial
1 Philippine Peso = 2.00763 Iceland Krona
1 Philippine Peso = 2.60177 Jamaican Dollar
1 Philippine Peso = 0.01422 Jordanian Dinar
1 Philippine Peso = 2.23294 Japanese Yen
1 Philippine Peso = 2.06945 Kenyan Shilling
1 Philippine Peso = 1.36341 Kyrgyzstan Som
1 Philippine Peso = 81.17021 Cambodia Riel
1 Philippine Peso = 9.03573 Comoros Franc
1 Philippine Peso = 18.06503 North Korean Won
1 Philippine Peso = 22.47491 Korean Won
1 Philippine Peso = 0.00608 Kuwaiti Dinar
1 Philippine Peso = 0.01646 Cayman Islands Dollar
1 Philippine Peso = 6.21999 Kazakhstan Tenge
1 Philippine Peso = 164.1108 Lao Kip
1 Philippine Peso = 30.22079 Lebanese Pound
1 Philippine Peso = 3.06604 Sri Lanka Rupee
1 Philippine Peso = 1.82658 Liberian Dollar
1 Philippine Peso = 0.25943 Lesotho Loti
1 Philippine Peso = 0.06119 Lithuanian Lita
1 Philippine Peso = 0.01246 Latvian Lat
1 Philippine Peso = 0.02797 Libyan Dinar
1 Philippine Peso = 0.19607 Moroccan Dirham
1 Philippine Peso = 0.36395 Moldovan Leu
1 Philippine Peso = 1.10036 Macedonian Denar
1 Philippine Peso = 27.19791 Myanmar Kyat
1 Philippine Peso = 48.1935 Mongolian Tugrik
1 Philippine Peso = 0.16111 Macau Pataca
1 Philippine Peso = 7.18587 Mauritania Ougulya
1 Philippine Peso = 0.6951 Mauritius Rupee
1 Philippine Peso = 0.31052 Maldives Rufiyaa
1 Philippine Peso = 14.40426 Malawi Kwacha
1 Philippine Peso = 0.37051 Mexican Peso
1 Philippine Peso = 0.08565 Malaysian Ringgit
1 Philippine Peso = 0.25809 Namibian Dollar
1 Philippine Peso = 6.4432 Nigerian Naira
1 Philippine Peso = 0.6002 Nicaragua Cordoba
1 Philippine Peso = 0.16848 Norwegian Krone
1 Philippine Peso = 2.07648 Nepalese Rupee
1 Philippine Peso = 0.02843 New Zealand Dollar
1 Philippine Peso = 0.00773 Omani Rial
1 Philippine Peso = 0.02007 Panama Balboa
1 Philippine Peso = 0.06543 Peruvian Nuevo Sol
1 Philippine Peso = 0.06377 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.10277 Pakistani Rupee
1 Philippine Peso = 0.0752 Polish Zloty
1 Philippine Peso = 111.54155 Paraguayan Guarani
1 Philippine Peso = 0.07308 Qatar Rial
1 Philippine Peso = 0.08182 Romanian New Leu
1 Philippine Peso = 1.13952 Russian Rouble
1 Philippine Peso = 16.44902 Rwanda Franc
1 Philippine Peso = 0.07527 Saudi Arabian Riyal
1 Philippine Peso = 0.15837 Solomon Islands Dollar
1 Philippine Peso = 0.26825 Seychelles Rupee
1 Philippine Peso = 0.13368 Sudanese Pound
1 Philippine Peso = 0.17472 Swedish Krona
1 Philippine Peso = 0.02777 Singapore Dollar
1 Philippine Peso = 0.01563 St Helena Pound
1 Philippine Peso = 0.44572 Slovak Koruna
1 Philippine Peso = 150.54195 Sierra Leone Leone
1 Philippine Peso = 11.01967 Somali Shilling
1 Philippine Peso = 440.26096 Sao Tome Dobra
1 Philippine Peso = 0.17507 El Salvador Colon
1 Philippine Peso = 10.33681 Syrian Pound
1 Philippine Peso = 0.25802 Swaziland Lilageni
1 Philippine Peso = 0.68306 Thai Baht
1 Philippine Peso = 0.04816 Tunisian Dinar
1 Philippine Peso = 0.04615 Tongan paʻanga
1 Philippine Peso = 0.07172 Turkish Lira
1 Philippine Peso = 0.13487 Trinidad Tobago Dollar
1 Philippine Peso = 0.60472 Taiwan Dollar
1 Philippine Peso = 44.74107 Tanzanian Shilling
1 Philippine Peso = 0.5289 Ukraine Hryvnia
1 Philippine Peso = 72.26014 Ugandan Shilling
1 Philippine Peso = 0.02007 United States Dollar
1 Philippine Peso = 0.56624 Uruguayan New Peso
1 Philippine Peso = 76.29466 Uzbekistan Sum
1 Philippine Peso = 0.20022 Venezuelan Bolivar
1 Philippine Peso = 456.12204 Vietnam Dong
1 Philippine Peso = 2.15295 Vanuatu Vatu
1 Philippine Peso = 0.05162 Samoa Tala
1 Philippine Peso = 11.77599 CFA Franc (BEAC)
1 Philippine Peso = 0.0542 East Caribbean Dollar
1 Philippine Peso = 11.81574 CFA Franc (BCEAO)
1 Philippine Peso = 2.13228 Pacific Franc
1 Philippine Peso = 5.01706 Yemen Riyal
1 Philippine Peso = 0.25808 South African Rand
1 Philippine Peso = 104.16499 Zambian Kwacha
1 Philippine Peso = 7.26415 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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