The Department of Energy (DOE) said a USD 80.70 billion investment package is needed by the Philippines between now and 2028 to meet its reliable and resilient energy supply under a clean and sustainable energy platform.
This investment projection will be at the forefront of discussions at the PowerTrends 2024 Conference on October 3 and 4, which will also discuss concurrent discussions regarding legislation aimed at encouraging increased energy investments in the industry.
This includes reforms to enhance the implementation of the Electric Power Industry Reform Act of 2001 (EPIRA Law), the passage of a Natural Gas Bill, and the prioritization of Waste-to-Energy legislation.
“We expect discussions on a number of strategic concerns such as moratorium on coal fired power plants, decommissioning of inefficient ones, push for hydrogen power plants, target at least 4,500 MW nuclear power capacity by 2050, increase renewable energy share in the power mix up to 35 percent by 2030,” said Leverage International Consultants Managing Director Cecilia Sanchez.
Additionally, talks of liquefied natural gas (LNG) as a transition fuel, review taxation on energy, push for low carbon emission transport system, operationalizing a smart and Green Grid Plan, and push for offshore wind development are some of the discussions that would be tackled in the Powertrends 2024 conference.
There will also be conversations about increasing biofuel production by leveraging the coconut sector as a fuel source, as well as making more investments in oil and gas exploration and development.
Power Philippines is the official media partner of Powertrends 2024. For more information, visit: https://bit.ly/PowerTrends2024
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