Renewable energy (RE) is being considered as a way to address Mindoro island’s power crisis, according to President Ferdinand Marcos Jr. during a meeting last weekend in Pola, Oriental Mindoro.
According to an article from Business World, the government is looking into wind and solar energy so that Mindoro won’t have to rely on other locations for its daily electricity needs.
For Marcos Jr., solar energy is seen as having the potential to be of use anywhere in the Philippines, wind power is also considered an option for acquiring energy.
For decades, power outages have been a nuisance on the island, disrupting daily life for the locals and local company operations.
“The technology on renewable energy is progressing rapidly. And many of these technologies are appropriate for the Philippines. We have already begun windmill power. We are now expanding very quickly our solar power production,” Marcos Jr. tackled during his SONA.
The Philippines had been urging foreign entities to invest in the country’s green energy sector during his foreign trip, including Marcos Jr.’s visit to China, where $13.76 billion in investment commitments for renewables were secured.
The Presidential Communications Office released a statement yesterday saying that most ventures from foreign investors are in the renewable energy and manufacturing sectors.
Evariste M. Cagatan, Executive Director for Investments Promotion Services believes that renewable energy is important for the green economy. She further explained that investors are looking for programs with Environmental, Social, and Governance (ESG) goals and that is what the Philippines can offer because the country is more inclined to accommodate RE.