June 11, 2020 Read More →

Philippine energy transition scaling up rapidly

Asian Power:

The economic lockdown in the Philippines has created an opportunity for its legislative arm and the private sector to pursue energy transition away from coal, according to a note from the Institute for Energy Economics and Financial Analysis (IEEFA).

The Philippines’ Congress Committee on Climate Change has approved House Resolution 761 calling for a climate emergency response, which includes not permitting any new coal plants. This would support the Department of Energy’s earlier caution against an overreliance on inflexible technologies such as coal that cause grid instability.

Earlier, Ayala-owned AC Energy stressed that solar and wind technology have scaled up significantly due to lower costs. Last month, AC Energy announced it would finalise coal exit plans by 2025 with full divestment to be completed by 2030. 

“The Covid-19 economic lockdown has created an opportunity for the Philippines to improve its power system by recalibrating country-level assumptions about technology, finance, and economic outcomes. The country has a rare opportunity to come together in support of clean energy options that will benefit everyone,” IEEFA analyst Sara Jane Ahmed said. 

[Staff Reporter]

More: Energy transition takes off in the Philippines

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