Ocean energy, specifically Tidal Stream Energy (TSE), is expected to make a significant contribution – together with other renewable energy sources – to achieve the goals of the Paris Climate Agreement. NAMA, together with Frankfurt School of Finance – UNEP Centre (FS) and their technology partner OceanPixel (Singapore), proposed the Decarbonisation of Electricity Generation on Philippine Islands using Tidal Stream and PV Solar (Programme) to the Nationally Appropriate Mitigation Action (NAMA) Facility. The proposal was accepted beginning of 2021, and the NAMA Facility agreed to fund further preparation needs of the Programme and allocated 20 million euros for the implementation phase.
Currently, the NAMA supporting organization partners are conducting the preparatory phase, which will end with the submission of a detailed feasibility study for the NAMA facility in August 2022. The Philippine partners are the Department of Energy and the Climate Change Commission of the Philippines, which steer the programme. Other stakeholders, such as the Energy Regulatory Commission and the NPC-SPUG (National Power Corporation – Small Power Utilities Group), are deeply involved in the programme preparation. UNOPS’ Energy Transmission Partnership (ETP) and UNDP’s DREAMS programme are supporting the programme by developing a marine energy roadmap and coordinating technical assistance programmes to various partners on the regulatory framework, licensing procedures, and integration of TSE into national support instruments for TSE. The two leading RE funding banks, the Landbank of the Philippines and the Development Bank of the Philippines, have agreed to include TSE projects in their RE portfolios. If the NAMA facility accepts the programme in the second half of 2022, the implementation phase will likely start in early 2023.
For more information regarding the Nama Programme please click here.