DOE gets P57.6M from PCSO for renewable energy fund

The Department of Energy (DOE) has received a P57 million remittance from the Philippine Charity Sweepstakes Office (PCSO) for the Renewable Energy Trust Fund (RETF).

In a news release on Thursday, the DOE said the PCSO’s P57,629,129.04 contribution to the RETF was in accordance with Republic Act 9513 or the 2008 Renewable Energy Act and its implementing rules and regulations.

The RE law established the RETF in order to finance the research, development, and promotion of renewable energy systems. 

The fund is bolstered by contributions from agencies such as the PCSO.

The DOE said the RETF empowers them to implement high-impact initiatives and integrate artificial intelligence (AI) to modernize the nation’s energy infrastructure and enhance self-sufficiency.

The agency said the RETF supports priority initiatives that strengthen renewable energy development, including improved resource assessment, planning, and program implementation. 

As part of its modernization efforts, the DOE said it is exploring data-driven tools, including AI-enabled analytics, to enhance the speed and consistency of technical assessments and decision support.

It added that the RETF is managed in accordance with government accounting and auditing rules to ensure transparency and proper use of funds. — JMA, GMA Integrated News