The Department of Energy (DOE) has invited the Association of Southeast Asian Nations (ASEAN) to invest in the country’s power sector as booming infrastructure programs will need massive amounts of energy supply.
“We’re inviting the energy investors from ASEAN. The ASEAN summit is an opportunity for us to drum up to our neighbors that there is this development happening in the Philippines and they can participate,” DOE chief Alfonso G. Cusi said.
He emphasized the investment opportunities are open to all and reiterated that there is no quote on the energy source chosen.
The current administration rolled out a three-year infrastructure program worth P3.6 trillion to be used from 2018 to 2020, which has been pegged as the “golden age” of infrastructure in the Philippines under the “Build Build Build” program.
“From 2016 to 2030, 17,300 megawatts is needed to support the Ambisyon 2040 development plan of the government for the Philippines,” Cusi said.
“An additional power of 26,000 MW from 2030 to 2040 or a total of 43,000 MW from 2016 to 2040 is needed to support the infrastructure projects,” he added.
”I’m sure there will be entrants, particularly those who can offer the best for the Philippines and those who can provide the supply in the cheapest and most efficient way,” Cusi said.