According to Energy Secretary Raphael Lotilla, most of the commitments of Chinese investors in the Philippine energy sector involve solar photovoltaic and offshore wind projects, among others, including wind turbine operators.
The briefing was made after a state visit by President Ferdinand “Bongbong” Marcos Jr. to Beijing, China last week, where Malacañang said he securedThe DOE in November amended a section of the implementing rules and regulations of the Renewable Energy Act of 2008,to engage in the exploration, development, and utilization of Philippine renewable energy sources.
The government targets to increase the share of renewable energy to 35% of the country’s power generation mix by 2030, and hike this to 50% by 2040. This includes offshore wind, waste-to-energy, expanded rooftop solar programs, as well as ocean and tidal stream energy. “They have several also companies that are studying of course conventional nuclear energy and even modular nuclear energy, so it is important for us to keep also the Chinese investors’ interest in this particular area,” he said., with Marcos pushing for its adoption in a bid to lower power rates., which they said would lower electricity rates and help secure a steady power source., directing the conduct of relevant studies for the adoption of a National Position for a Nuclear Energy Program.
Source: Energy Industry News (energyindustrynews.net)
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