“[The] Philippines has matured into a market-driven industry.”
That’s how energy industry players, both local and abroad, described the current state of the Philippine energy sector at the 6th Power Southeast Asian Exhibition and Conference (PSEA) last week.
“2018 provides an opportunity for the energy sector to continue their push in pursuing and achieving our mandate of providing reliable, stable, and sustainable energy for the Filipinos,” Department of Energy, Energy Policy and Planning Bureau officer-in-charge Patrick Aquino said in his keynote speech.
Different companies have discussed opportunities and development in the Philippine energy market, particularly in the renewable energy belt, especially now that the Build Build Build infrastructure program of the Duterte administration has commenced.
Aquino said that the Philippines needs an additional 44,765 megawatts (MW) of power from 2017 to 2040.
“The Philippine energy sector provides continuing opportunities for investment,” Aquino said, adding that the strategic direction is “first and foremost energy security.”
Energy players present in the two-day conference also expressed their concerns over the recent leadership vacuum of the Energy Regulatory Commission.
Among companies present include the Aboitiz Power Corporation, Energy Development Corporation, AC Energy, National Grid Corporation of the Philippines, Energy Regulatory Commission
The 6th PSEA with the theme “Connecting the people, lighting up the future” was held at The Bellevue Manila Hotel in Alabang on January 25 and 2016, 2018.