Metro Manila, Philippines - On 27 October 2020, the Department of Energy (DOE) through Energy Secretary Alfonso G. Cusi announced during a speech at the 2nd Global Ministerial Conference on System Integration of Renewables that the Philippine government will no longer accept proposals to build new coal power plants to build on the policy of expanding the use of renewable energy. This announcement is the end-result of an urgent policy review which began at the start of the year and addresses power market problems that were exacerbated by the pandemic. [source]
“As the Philippine Department of Energy re-evaluates the appropriateness of our current energy mix vis-a-vis our energy goals, I am optimistic that this would lead to more opportunities for RE to figure prominently in our country's energy future,” he said. “We are also pushing for the transition from fossil fuel-based technology utilization to cleaner energy sources to ensure more sustainable growth for the country,” he said. [source]
Coal-fired power represented 41.5% of the nation's power in June 2020, according to the DOE, and oil and natural gas contributed another 29%. Renewables, mostly hydropower, contributed less than 30%. But solar in particular could surge beyond 35% of the power mix by 2030, Cusi said.
This is a welcome announcement for a country with uncompetitively high electricity prices in Asia. By modernizing the power system and pivoting away from over-reliance on baseload coal, there will be a meaningful market opportunity for those companies that can master new technology options and deliver lower costs for consumers and industry, as well as domestic energy security through renewable energy.
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