The Philippine Board of Investments (BoI) has lowered the minimum investment requirements for power projects utilising new and renewable energy (NRE) sources.

Projects using NRE sources that would be connected to main power grids should cost at least US$1.25M for wind power, US$200,000 for hydro power, and US$1.8M for biomass.

The policy, which was recommended and approved by the Department of Energy, is aimed at encouraging the establishment of developmental power projects using NRE sources.