The Daily Tribune
DoE taps P57-M PCSO energy grant
The Department of Energy (DOE) has received a P57.4 million grant from the Philippine Charity Sweepstakes Office (PCSO) to fund renewable energy research and development projects in the Philippines.
This funding will support initiatives such as the development of sustainable aviation fuel, renewable energy mapping, and assessments of the solar photovoltaic market.
The grant is PCSO's mandated 2023 contribution to the Renewable Energy Trust Fund (RETF), established under the Renewable Energy Act of 2008.
The RETF is designed to support clean energy technology projects, with the DOE managing the fund through its RETF Committee.
To ensure effective project implementation, the DOE has entered into a Memorandum of Agreement with the Department of Science and Technology and the Philippine Council for Industry, Energy and Emerging Technology Research and Development.
The Philippine government has set targets to increase the share of renewable energy in the country's energy mix to 35 percent by 2030 and 50 percent by 2040.
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