OPERATIONS of the Philippine renewable energy market (REM) will start on Dec. 26, the Department of Energy (DOE) announced in a circular on Tuesday.
The REM — the venue for trading renewable energy certificates (RECs), the currency or amount of power generated from renewable sources — allows mandated participants to comply with their Renewable Portfolio Standards (RPS) obligations in order to meet the target RE share in the country's energy mix at 35 percent by 2030 and 50 percent by 2040, in accordance with Republic Act (RA) 9513 or the Renewable Energy Act of 2008.
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