MANILA, Philippines — Exist, a global consulting and enterprise IT solutions leader, is currently working on the development of the country’s landmark nationwide system to establish the country’s renewable energy market (REM).
Faced with a tight bid schedule which threatened the 2019 project timeline, the Philippine Electricity Market Corporation (PEMC), the governance arm of wholesale electricity spot market (WESM) has finally found its worthy IT partner to help design and build the platform and all accompanying technical systems to run the Philippine Renewable Energy Market System (PREMS) that seeks to promote more RE-based investment locally.
“We are honored for the trust that was given to our team, for believing in our enterprise IT skills and experience to provide solutions for the local energy sector”, reveals Mike Lim, CEO of Exist. “Working on PREMS and previously on the WESM spot market system afforded us a unique perspective and as a result, we can say we have a better understanding of the local power sector and a bountiful supply of ideas for innovative solutions that could help market participants, as well.”
Under the joint auspices of the United Nations Development Program (UNDP), the Department of Energy (DOE) and the Global Environment Facility (GEF) called Development for Renewable Energy Applications Mainstreaming and Market Sustainability (DREAMS) Project, the development of PREMS is intended to curb local greenhouse gas (GHG) emissions through commercialization of the RE markets and incentivize investments in RE-based power generation projects.
“We’ve assembled our best software minds and utilized knowledge of up and coming technologies to ensure that we deliver a complete system that is perfectly capable to carry out PREMS’ supportive policies and regulatory requirements”, adds Mr. Lim. “As per practice, we keep close coordination with all partners concerned, working out changes to ensure that we still deliver within schedule.”
In 2008, The Philippine Renewable Energy Act was passed which aimed to elevate the use of renewable energy resources and its capacity development yet in many ways, adoption and preferential use of RE is still very much in a transition phase.
Mr. Lim further adds, “We are aware of the significance of this project, not only for its alternative power-providing component but for the focus this brings towards a cleaner environment and a sustainable future.”
We cannot afford any more delays. We understand this is also about doing our part as a nation to contribute towards the health of our planet”, concludes Mike.
You can view the official UNDP Procurement Notice for the Development of Software, Supply and Delivery of Hardware for the Implementation of the Philippine Renewable Energy Market System (PREMS) awarded to Exist here. (http://procurement-notices.undp.org/view_awards.cfm)