00:00Such an energy mix leaves us more vulnerable to fluctuations in global fuel prices and developments in the international market,
00:09as we have experienced in the last few months, and it underscores the importance of diversifying our energy sources and
00:19how we must be committed to moving that mix in the direction to favor renewables.
00:27Recognizing this challenge, this administration has worked closely with our partners to accelerate the development of new RE facilities.
00:35This MCERA solar project stands as one of the clearest expressions of that commitment.
00:42In fact, the Phase 1 has already reached about 91% completion. It's expected to be fully commercially available by
00:49August of this year.
00:50On the other hand, Phase 2 has commenced earlier this year with expected completion by 2027.
00:58Upon completion of both phases, this facility will be capable of delivering up to 3,500 megawatts peak of solar
01:08power to the grid.
01:09It is supported by 4,500 megawatts hours of battery storage capacity.
01:16These capabilities will help strengthen the stability of our power system while expanding the role of green energy in our
01:25power generation mix.
01:26Equally importantly, its impact will be felt in the daily lives of our people.
01:33Once fully operational, we expect this project to energize more than 2.4 million Filipino households while reducing carbon emissions
01:42by around 4.3 million metric tons a year.
01:46Its contribution extends well beyond power generation alone.
01:52Over the next decade, the project is projected to generate nearly 23 billion pesos in financial benefits while providing increased
02:01tax revenues and financial assistance to its host communities.
02:05And as operations expand, we look forward to even greater opportunities for our people, more jobs, stronger local government revenues,
02:15and sustained programs that promote community development.
02:18The progress we celebrate today forms part of a broader effort to transform our energy sector into one that is
02:26more resilient, more competitive, and better equipped to meet the demands of a growing economy.
02:32That is why this administration continues to encourage investments in renewables.
02:38From July 2022 to May 2026, the Department of Energy has awarded 605 renewable contracts.
02:48Earlier this year, the Department of Energy also launched a 10-year green energy oxygen program which seeks to deliver
02:5625 gigawatts of new renewable capacity from 2027 to 2028.
03:04This is in consonants with our plan that we will be able to reduce by the year 2030, we will
03:14be able rather to increase our renewable mix to about up to 40% by the year 2014.
03:23Beyond expanding power generation, we are equally focused on strengthening the systems that support it.
03:29We have invested in energy storage systems, increasing the country's installed capacity from 93 megawatts as of July 2022 to
03:40now 845 megawatts as of May of this year.
03:45All of this enhances the reliability of our power supply, improve the integration of renewable energy into the grid, and
03:54help ensure that Filipino consumers benefit from a more stable and efficient energy system.
04:00At the same time, we are modernizing the country's transmission network.
04:06Through the smart green and green grid plan, we are preparing our grid to accommodate additional renewable energy capacity and
04:15respond to the evolving requirements of the power sector.
04:19These initiatives demonstrate that securing our future energy requirements, that we support our institutions, the systems, and partnerships that allow
04:29investment to serve the Filipino people for many, many generations to come.
04:35None of these accomplishments, of course, would not have been possible without the collaboration of the private sector, our host
04:43communities, and every stakeholder who has contributed to their expertise and their industry to this pursuit.
04:50Indeed, the MTERA solar project is proof that the Philippines is capable not only of envisioning world-class infrastructure, but
05:00also delivering.
05:01As we move forward, let us continue to work with the same sense of purpose that has brought us to
05:09this milestone here today.
05:11Now ay magsilding paalala ang proyektong ito na ang pag-unlag ay bunga ng pagtutulungan, pagkakaisa, at pagsisikat para sa
05:21kapakanan ng mas nakaparami.
05:23Sama-sama nating itatan ang isang bagong Pilipinas na may sapat na enerhiyang upang mapalago ang ating ekonomiya, matupad ang
05:34pangarap ng ating mga mamamayan, at makapagbigay ng mas maliwanag na kinabupasan sa susunod na henresyon.
05:42Once again, congratulations to everyone who was involved in this grand project. Maraming salamat sa inyong lahat. Happy birthday again.
05:51Happy birthday again.
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