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LGUs allowed to tap development funds for oil storage, renewable energy facilities
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BusinessWorld Online
LOCAL GOVERNMENT UNITS (LGUs) have been cleared to tap their development funds to build oil storage facilities and renewable energy infrastructure as the government seeks to mitigate the impact of global fuel supply disruptions.
The circular provides that LGUs may continue to use the funds for projects intended to mitigate fuel supply volatility and reduce long-term local energy consumption and costs.
“Such projects may be considered Government Energy Efficiency Projects focusing on strengthening storage capacity, diversifying energy sources, improving infrastructure efficiency, and accelerating the transition to alternative fuels and renewable energy,” according to the JMC.
Eligible projects include oil storage facilities and solar photovoltaic infrastructure, renewable energy expansion, and smart and green grid systems.
President Ferdinand R. Marcos, Jr. declared a state of national energy emergency via Executive Order No.