Philippines

IEEFA Research

IEEFA Philippines: NPC-SPUG shift can drive savings to P13.5 billion per year

IEEFA Philippines: NPC-SPUG shift can drive savings to P13.5 billion per year

Shift from diesel to renewables can save electric coops P1.4-1.7 billion over next decade

3 December 2020 (IEEFA Philippines): The record-breaking disasters in the Philippines this year highlight the potential for renewable energy to power small island and isolated power grids and save the country up to P13.5 billion per year, and electric cooperatives an additional P1.4 to P1.7 billion over the next decade, finds a new report from […]

IEEFA update: Peabody Energy flirts with bankruptcy—again

IEEFA update: Peabody Energy flirts with bankruptcy—again

Bear market for coal, new financial pressures push world’s largest coal company towards default

Just three-and-a-half years after emerging from its previous bankruptcy, Peabody Energy—the world’s largest private coal miner—admitted to investors on Monday that it could face yet another trip to bankruptcy court in the coming months. Coal bankruptcies in the United States have become increasingly common. Cheap gas and renewable power have steadily replaced coal in the […]

IEEFA: Philippines coal moratorium highlights dramatic pivot to renewable energy investment for lower prices and power system resilience

IEEFA: Philippines coal moratorium highlights dramatic pivot to renewable energy investment for lower prices and power system resilience

Policymakers and industry leaders ready to embrace new energy technologies

3 November 2020 (IEEFA Philippines): The Department of Energy’s call for a moratorium on greenfield coal power plants marks a clear break with past policies and comes as the Philippines prioritizes the need for more resilient, flexible and lower cost alternatives to fossil fuel baseload power, finds a new report from the Institute for Energy […]

IEEFA: From zero to fifty, global financial corporations get cracking on major oil/gas lending exits

IEEFA: From zero to fifty, global financial corporations get cracking on major oil/gas lending exits

Accelerating divestment from oil and gas shows similar early trends to global financial institution’s exit from coal

20 October 2020 (IEEFA): Fifty globally significant financial institutions have introduced policies restricting oil sands and/or oil and gas drilling in the Arctic including 23 to date this year, highlighting global capital continues to flee fossil fuels, according to a new tracker developed by the Institute for Energy Economics and Financial Analysis (IEEFA). “Momentum is […]

IEEFA report: Volts from the blue – floating solar to generate 900% more electricity across Asia-Pacific

IEEFA report: Volts from the blue – floating solar to generate 900% more electricity across Asia-Pacific

From below 1MW before 2019, ASEAN nations now have over 51MW installed and 858MW planned

July 1, 2020 (IEEFA) – Asia leads Europe in deploying floating solar, also known as floating photovoltaic (FPV), a new IEEFA report finds. Energy finance analysts Sara Jane Ahmed and Elrika Hamdi note that power demand in the Philippines and Malaysia has dropped by as much as 16% during the COVID-19 lockdown, causing extreme stress […]

IEEFA Philippines: Reshaping the power market by moving towards renewables and energy resilience by 2021

IEEFA Philippines: Reshaping the power market by moving towards renewables and energy resilience by 2021

Less reliance on big coal power and accelerating auctions will reduce prices and provide a more reliable electricity system

June 24, 2020 (IEEFA Philippines) – The Philippines could come out COVID-19 with cheaper electricity prices and a more competitive and reliable power sector if it swapped its reliance on expensive coal power for cheaper renewables and structured a transition plan using auctions, finds a new report from the Institute for Energy Economics and Financial […]

IEEFA: Philippines Central Bank offers new support for energy transition and renewables

IEEFA: Philippines Central Bank offers new support for energy transition and renewables

The Sustainable Finance Framework promotes compliance with environmental, social and governance (ESG) standards

May 7, 2020 (IEEFA) – The Philippines’ Central Bank (Bangko Sentral ng Pilipinas) has approved a Sustainable Finance Framework to safeguard the financial system from the evolving material hazards from climate change and energy transition risk including stranded assets, the Institute for Energy Economics and Financial Analysis (IEEFA) reports in a new briefing note. “COVID-19 […]

IEEFA Asia: Asian financial institutions also beginning to exit coal financing

Asia’s gradual exodus away from coal will eventually lead to a landslide

29 April 2020 (IEEFA Asia): Under the cover of COVID-19, Asian financial institutions and corporations have been stepping up and out of coal financing, finds a new briefing note by the Institute for Energy Economics and Financial Analysis (IEEFA). In the last month alone, Japan’s two largest institutional banks, Sumitomo Mitsui Financial Group and Mizuho […]

IEEFA Philippines: Auctions can transform the competitiveness of the power sector

IEEFA Philippines: Auctions can transform the competitiveness of the power sector

Green Energy Tariff Program a catalyst for huge new renewable energy investment

February 13, 2020 (IEEFA Philippines) – The Philippines could attract USD 20 billion of renewable energy investment over the next decade through the use of auctions in and beyond the Department of Energy’s proposed Green Energy Tariff Program, finds a new report by the Institute for Energy Economics and Financial Analysis (IEEFA). The report, Paying Less for […]

IEEFA report: Philippine energy outlook reflects shifts in rules, risk, and demands for change

IEEFA report: Philippine energy outlook reflects shifts in rules, risk, and demands for change

Utility giant Meralco could emerge as innovator or damaged laggard

September 18, 2019 (IEEFA Asia) – The Philippine energy sector is grappling with changes at the national and global levels generated by increased demands for transparency in bidding and pricing while reducing climate risk and avoiding stranded assets, according to a report released today by the Institute for Energy Economics and Financial Analysis (IEEFA). The […]

More News and Commentary

Philippine bank RCBC to stop lending for new coal-fired power projects

Manila Bulletin: Yuchengco-led Rizal Commercial Banking Corporation (RCBC) has forthrightly declared that it will no longer extend financing to new coal-fired power projects in the Philippines. That came as a daring statement from RCBC President and CEO Eugene S. Acevedo, the first bank chief executive to do so following last month’s coal moratorium declaration by […]

December 11, 2020 Read More →
IEEFA Philippines: NPC-SPUG shift can drive savings to P13.5 billion per year
and

IEEFA Philippines: NPC-SPUG shift can drive savings to P13.5 billion per year

Shift from diesel to renewables can save electric coops P1.4-1.7 billion over next decade

3 December 2020 (IEEFA Philippines): The record-breaking disasters in the Philippines this year highlight the potential for renewable energy to power small island and isolated power grids and save the country up to P13.5 billion per year, and electric cooperatives an additional P1.4 to P1.7 billion over the next decade, finds a new report from […]

IEEFA update: Peabody Energy flirts with bankruptcy—again
and

IEEFA update: Peabody Energy flirts with bankruptcy—again

Bear market for coal, new financial pressures push world’s largest coal company towards default

Just three-and-a-half years after emerging from its previous bankruptcy, Peabody Energy—the world’s largest private coal miner—admitted to investors on Monday that it could face yet another trip to bankruptcy court in the coming months. Coal bankruptcies in the United States have become increasingly common. Cheap gas and renewable power have steadily replaced coal in the […]

IEEFA: Philippines coal moratorium highlights dramatic pivot to renewable energy investment for lower prices and power system resilience
, and

IEEFA: Philippines coal moratorium highlights dramatic pivot to renewable energy investment for lower prices and power system resilience

Policymakers and industry leaders ready to embrace new energy technologies

3 November 2020 (IEEFA Philippines): The Department of Energy’s call for a moratorium on greenfield coal power plants marks a clear break with past policies and comes as the Philippines prioritizes the need for more resilient, flexible and lower cost alternatives to fossil fuel baseload power, finds a new report from the Institute for Energy […]

IEEFA: Why 2020 is turning out be a pivotal year for fossil fuel exits

The writing is on the wall for coal, and now globally significant financial institutions are starting to shun high risk oil and gas projects

What started as a trickle is turning into a rush for the exit as countries, financial institutions and companies commit to quitting coal – and increasingly oil and gas as well. 2020 to-date has seen 56 global banks, insurers, pension funds and asset managers announce new or expanded coal exit policies – 143 globally significant […]

October 30, 2020 Read More →

Philippines government says no to new coal plant proposals

24 Pilipinas: The Duterte administration will no longer accept proposals to construct new coal power plants, a dramatic shift in energy policy that counts on declining costs of renewables to attract clean power investments. The moratorium was announced in tandem with the relaxation on foreign ownership limits in geothermal energy, doubling down on the slow […]

October 27, 2020 Read More →

Kepco reported to be backing away from 630MW coal project in South Africa

Mining Weekly: South Korea’s state-owned power utility Kepco will either cancel its investment in coal-driven South African independent power producer Thabametsi, or transition the project to gas. A statement issued on Friday by Seoul-based nongovernmental organisation Solutions for Our Climate said Kepco announced on Thursday night it would no longer invest in overseas coal projects, […]

October 20, 2020 Read More →
IEEFA: From zero to fifty, global financial corporations get cracking on major oil/gas lending exits
, and

IEEFA: From zero to fifty, global financial corporations get cracking on major oil/gas lending exits

Accelerating divestment from oil and gas shows similar early trends to global financial institution’s exit from coal

20 October 2020 (IEEFA): Fifty globally significant financial institutions have introduced policies restricting oil sands and/or oil and gas drilling in the Arctic including 23 to date this year, highlighting global capital continues to flee fossil fuels, according to a new tracker developed by the Institute for Energy Economics and Financial Analysis (IEEFA). “Momentum is […]

IEEFA: Measuring and managing energy transition risk in the Philippines

There is an opportunity to improve the power system

As part of a UK government-funded project to support the Philippines power sector stakeholders navigate the shifts, risks and opportunities associated with the energy transition, the Carbon Tracker Initiative (CTI), in collaboration with the Institute of Energy Economics and Financial Analysis (IEEFA) and the Institute for Climate and Sustainable Cities (ICSC), have hosted a series […]

September 24, 2020 Read More →

Southeast Asian nations set region-wide renewable energy goal of 23 percent by 2025

The ASEAN Post: [The Association of Southeast Asian Nations (ASEAN)] has set an ambitious target of securing 23 percent of its primary energy from renewable sources by 2025 with energy demand in the region is expected to grow by 50 percent. According to the International Renewable Energy Agency (IRENA), this objective entails a “two-and-a-half-fold increase […]

August 26, 2020 Read More →