The Philippines hopes to attract $9-10 billion in investments in renewable energy projects over the next 10 years as a law giving investors fiscal incentives takes effect next month, a top official said on Monday.

"Our objective is to double the power being generated from renewable energy sources, from 4,500 MW to 9,000 MW in 10 years," Energy Secretary Angelo Reyes told a news briefing.

The revised price is the highest in country for biomass power

Capacity utilisation declined sharply in Tamil Nadu

New tariff arrived at after consultative process

The World Bank is supporting the Government initiative to increase rural people's access to electricity through the Rural Electrification and Renewable Energy Development (RERED) Project as the Government is relying upon renewable energy options to provide electricity in remote areas where grid expansion is either too expensive or not possible now.

In a fresh bid to strengthen the national power-grid with another 400 MWs, 159 licences have already been issued to prospective corporate stakeholders to carry on with renewable energy power generation, and interested parties are bound to complete their projects within a set timeframe of two years, a Ministry of Power and Energy press release said.