The updated Philippine Energy Plan (PEP), which is set for completion this year, will focus on meeting the goals for emerging renewable energy technologies, and will not yet commit to a net-zero emission target.
In a report by the Business World, Energy Policy and Planning Bureau director, Michael O. Sinocruz said that they are not going to carry out the net zero goal by 2050 because they are still considering several options, which include over-achieving the targets without committing to net zero.
Net zero entails reducing greenhouse gas emissions as close to zero as possible and compensating for any remaining emissions by offsetting or removing an equivalent amount from the atmosphere.
Sinocruz added they aim to target a higher share for RE, surpassing the 50% mark and adding emerging technologies in the mix such as offshore wind and the development of hydrogen and ammonia.
To date, the DOE has issued a total of 73 offshore wind service contracts, with a collective capacity of 58,531 megawatts (MW).
The updated PEP would also include policy direction for downstream oil, energy efficiency, renewable energy, natural gas, clean energy transition, and electric vehicles.
Aside from this, the new PEP would also target 2,400 MW of nuclear energy by 2035.
