The energy sector is bullish ahead of President Ferdinand Marcos Jr.’s State of the Nation Address (SONA).
The sector expressed hope the SONA would put emphasis on energy security through nuclear and renewable energy, paving the way for a clear path towards energy transition.
“I look forward to hearing from the President how he plans to further address energy security and the transition plans to a low carbon economy. We hope the SONA will reinforce policy directions that promote greater private sector participation, faster permitting, stronger support for diverse energy sources, and investments in grid modernization. For MGEN, we are eager to align our efforts with the government’s agenda in powering inclusive growth and building a better future for all Filipinos,” Meralco PowerGen Corp. president Emmanuel Rubio said.
Tetchi Capellan of the Philippine Solar and Storage Energy Alliance (PSSEA) said the renewable energy sector is one major space attracting huge investments.
“The lesson behind this is the government clear commitment, as demonstrated in the continuous auction, to reach its 35 percent RE target by 2030 and 50 percent RE target by 2050,” Capellan said.
“We hope that the President stays the course and sustains the growth of the RE sector. No less that ILO forecasted the creation of 350,000 jobs by 2030,” she said.
Bloomberg has declared the Philippines as a major destination for RE investments because of its policy environment and good governance.
“I expect PBBM to outline energy transition policies esp on natural gas and nuclear with the passage and enactment of PhilAtom Bill,” Meralco chief operating officer Ronnie Aperocho said.
“I hope the composition of the Philatom body is beyond reproach in terms of competence and credibility,” he said.
Capellan lauded Marcos for the swift appointment of Department of Energy Secretary Garin and Energy Regulatory Commission chair Francis Saturnino Juan.
“Hence, like the BPO and OFW, the renewable energy sector promises to contribute a great deal to the growth of the economy,” Capellan said.
