Department of Energy (DOE) Secretary Raphael PM Lotilla assured that the energy department is creating an investment-friendly environment by “leveling the playing field, simplifying processes, and providing policy support mechanisms.”
In the Giga Summit hosted by the Manila Electric Co. (MERALCO), Lotilla reiterated that President Ferdinand Marcos Jr. emphasized the goal of achieving at least a minimum of 35% renewable energy (RE) in the power mix and increasing by 50% by 2040.
“The plan encourages the adoption of modern technologies, smart grid systems, and demands site management to bring down overall energy consumption, lower greenhouse gas emissions in various centers, and reduce energy intensity in the production of goods and services.” said Lotilla in reference to the Clean Energy Plan.
MERALCO CEO Manny V. Pangilinan, who was also at the event, said that the energy firm is committed to exploring and developing more stable and sustainable energy alternatives.
“We are pursuing what is likely to be one of the largest solar farms in the Philippines with around 2,500 megawatts (MW) of solar capacity and an output capacity of about 850 MW.”
Pangilinan further clarified that should the government approve, MERALCO would develop a smart meter infrastructure so that households and businesses could manage their energy consumption more effectively.
He also discussed the possibility of nuclear power in the country, saying that the utility company is looking into exploring the nuclear option in the Philippines.
“Apart from acquiring and building nuclear plants… we need to invest in the soft side of business… invest in 15 Filipino talents for nuclear engineering,” Pangilinan said.