IFC Funds Study on Renewable Energy and Biofuels in the Philippines

Manila, Philippines [RenewableEnergyAccess.com] Research into the development of renewable energy and biofuels in the Philippines is under way with the Private Enterprise Partnership (PEP) for the Philippines currently accepting proposals from local and foreign consultants to undertake the study. This is made possible by funding from the International Finance Corporation (IFC), the private sector arm of the World Bank Group.

The study will investigate potential opportunities for using biodiesel and bioethanol and will examine the present and potential sources of feedstock, available technology, infrastructure, and regulation. It will also look at international best practice and key success factors in countries that have shifted some of their energy needs to alternative sources. This includes Brazil, which is using ethanol, and India, which is using compressed natural gas. “The study aims to gain a clearer understanding of the opportunities that can be derived from use of biofuels. It will also look at how IFC can play a role in transforming these opportunities into concrete gains for energy users in this country,” said Euan Marshall, Country Coordinator for PEP-Philippines. The study comes as Philippine legislators deliberate on a renewable energy bill and a biofuels bill, both of which are aimed at developing the country’s renewable energy industry. “We feel it is the right time to do this study, given the interest and growing awareness from all sectors about cleaner sources of energy, especially for the transport sector,” said Marshall. PEP-Philippines has to date received 10 proposals from a number of foreign and local consulting firms seeking to undertake the study, which is scheduled to begin in September with a targeted completion date of November 2006.