Philippines

IEEFA Research

IEEFA: LNG-to-power investors in the Philippines risk exposure to $14 billion in stranded assets

IEEFA: LNG-to-power investors in the Philippines risk exposure to $14 billion in stranded assets

High regulatory and financial uncertainty in the Philippines market

5 May 2021 (IEEFA Philippines):  The race to develop liquified natural gas (LNG) facilities in the Philippines has gone from a marathon to a sprint but potential LNG investors must proceed at their own risk, according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). “Officials in the Philippines have […]

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 […]

More News and Commentary

Asia continues to lead in number of 1GW+ solar projects in pipeline

PV Tech:  Asia boasts a growing number of markets with solar development pipelines in excess of 1GW, a new report by Fitch has found, with the region dominating the consultancy’s project database analysis this year. While solar development in Asia is of course dominated by China, Fitch noted that ten markets in the continent hold […]

June 15, 2021 Read More →

Philippines considers converting Mindanao coal plants to renewables

Eco-Business: The Philippine government is planning to convert coal plants into renewable energy power stations in Mindanao as part of the country’s transition to clean energy. Finance assistant secretary Paola Alvarez said on Wednesday ( 9 June) that the department is now in talks with multi-lateral lender Asian Development Bank (ADB) to initiate a phase-out […]

June 14, 2021 Read More →

First 40MW completed on 470MW Philippines battery project

Energy Storage News: Fluence has completed the commissioning of two large-scale battery projects in the Philippines, following similar announcements by rivals ABB and Wartsila. The Arlington, Virginia-headquartered multinational said today that two 20MW / 20MWh battery energy storage systems (BESS) have been successfully brought online in the Southeast Asian country. They were delivered for Filipino […]

June 9, 2021 Read More →

IEEFA: It’s time for the Biden administration to champion renewable energy in the Philippines, not nuclear or fossil gas

Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term

The United States has spent the past four years pushing expensive, unreliable energy infrastructure in the Philippines, rather than promoting cheap renewable technologies better suited for the Philippines market and its clean energy goals. The former Trump administration’s “energy dominance” agenda aimed to stimulate Southeast Asian demand for US fossil gas and nuclear exports as […]

Japan establishes $10 billion investment and loan bank for ASEAN

Nikkei Asia ($): Japan is preparing to launch a new initiative aimed at helping the 10-member Association of Southeast Asian Nations cut greenhouse gas emissions and realize a decarbonized society. Tokyo will take the lead in compiling a road map to decarbonization, set up a public and private investment and loan facility of $10 billion, […]

May 28, 2021 Read More →

AC Energy announces plans for largest wind farm in Philippines

The Economic Times: *AC Energy Corp, the power generation unit of Philippine conglomerate Ayala Corp, will build an 11.4 billion-peso ($239 million) wind farm that it said will be the country’s largest such facility. * The 160-megawatt Balaoi & Caunayan wind farm will be constructed in Pagudpud municipality in Ilocos Norte province on the country’s […]

May 21, 2021 Read More →

MERALCO launches 50-megawatt Bulacan solar plant

Power Philippines: PowerSource First Bulacan Solar, Inc. (PFBSI), a 60-40 joint venture between MGen Renewable Energy, Inc. (MGreen) and PowerSource Energy Holdings Corporation has officially started commercial operations of its 50-megawatt solar power plant in San Miguel, Bulacan, providing clean energy to the Luzon Grid. Now called BulacanSol, the newly completed Php4.25 billion solar farm […]

May 14, 2021 Read More →

Mitsui plans first major megasolar venture in Philippines

Nikkei Asia ($): Japanese trading house Mitsui & Co. has chosen the Philippines as the site for the company’s first megasolar project in Southeast Asia. Mitsui has formed a renewable energy joint venture with Philippine utility Global Business Power. The solar project in the northern province of Rizal is expected to cost roughly 7 billion […]

May 13, 2021 Read More →
IEEFA: LNG-to-power investors in the Philippines risk exposure to $14 billion in stranded assets
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IEEFA: LNG-to-power investors in the Philippines risk exposure to $14 billion in stranded assets

High regulatory and financial uncertainty in the Philippines market

5 May 2021 (IEEFA Philippines):  The race to develop liquified natural gas (LNG) facilities in the Philippines has gone from a marathon to a sprint but potential LNG investors must proceed at their own risk, according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). “Officials in the Philippines have […]

Subic coal consortium withdraws from 660-megawatt coal project

Manila Standard: The consortium behind Redondo Peninsula Energy Inc. pulled out of the planned 660-megawatt coal-fired facility in Zambales province. RP Energy is a joint venture among Meralco PowerGen Corp., a unit of Manila Electric Co., Therma Power Inc. of the Aboitiz Group and Taiwan Cogeneration International Corp. Aboitiz Power Corp. president Emmanuel Rubio said […]

April 28, 2021 Read More →