THE moratorium on new coal power plants has undeniably set the stage for energy transition, boosting the deployment of renewable energy (RE) projects and implementation of more RE policies at full speed.
THE moratorium on new coal power plants has undeniably set the stage for energy transition, boosting the deployment of renewable energy projects and implementation of more RE policies at full speed.
DOE data showed that coal accounted for 62.5 percent of the country’s power generation mix in 2023, and this share is expected to increase as coal power projects previously approved and already in the pipeline prior to the implementation of the moratorium are expected to be on the commercial stage and operational soon.
Of the four, FDC has secured a certification stating that its planned 270MW coal project is not covered by the moratorium. AOE’s 1,200MW coal project has a pending request for confirmation on its non-coverage to coal moratorium. However, the DOE said the country’s power generation mix cannot be directly compared with large economies like China and Indonesia due to significant differences in demographic, economic, and energy profiles.
“We are prepared for the various scenarios of the energy transition and the relatively young age of these coal plants help ensure that we will have enough baseload capacity through to 2030,” added Lotilla. “The DOE is taking several steps to encourage coal plant owners and operators to totally shift to RE and help them cope with ESG practices,” the agency said.
Ahmed Saeed, ADB vice president, said, “We commend the Ayala Group and ACEN for the successful closing of this pioneering ETM transaction. We hope that this sets the tone for others to pursue the just transition of thermal plants to cleaner technologies.” Alsons Power CEO Antonio Miguel Alcantara said the company will launch its 14.5MW hydro power plant and a large-scale solar project this year.
“By enhancing the plant’s performance and adopting greener practices, we not only lower power costs for our consumers but also contribute to a cleaner environment. It’s a balance of providing reliable and affordable energy while taking active steps toward environmental responsibility. This holistic approach allows us to support economic growth while preserving the quality of life for the communities that depend on us.
It has already pioneered Battery Energy Storage Systems in the country to manage the intermittent nature of renewables and ensure a stable power supply. These efforts demonstrate SMGP’s strong commitment to ESG principles and a cleaner energy future for the Philippines. “Even in Germany, coal-fired power plants still play key roles in balancing the electricity output of variable renewable energy such as wind and solar,” Pandjaitan said.A PENDING measure filed by Senate Energy Committee vice chairman Sherwin Gatchalian would help push the DOE closer to its RE goals.
“It is important for the country to have a proper plan for the wider use of renewable energy and lower the price of electricity,” the lawmaker said.WHILE energy transition is a global trend that cannot be stopped, affordable electricity prices is of the utmost importance for a developing country like the Philippines.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fintech Alliance PHL showcases PHL Fintech developments at Singapore FinTech Festival 2024MAKATI CITY, PHILIPPINES - FinTech Alliance.PH, the country’s premier and leading organization of unicorns, fintech startups, and organizations, has confirmed the Philippines' participation in the highly anticipated Singapore FinTech Festival.
Read more »
Global award-winning HONOR Magic V3 is confirmed to arrive in PHLHONOR is on top of the world, literally – participating in a Guinness World Record, HONOR Magic V3 is coming soon in PH Manila, Philippines, September, 2024 – The leading global smart devices provider, HONOR, is launching the HONOR Magic V3 in the Philippines which is the brand’s thinnest...
Read more »
Green Lane system: A game-changer for PHL economic growth and competitivenessThe government’s initiative to establish a “green lane” system is a significant step towards attracting foreign direct investments and boosting the country’s economic growth. With the issuance of Executive Order 18, the Marcos administration has demonstrated its commitment to creating a conducive environment for strategic investments.
Read more »
PHL returns to Tour de Langkawi cycling raceThe Philippines returns to the Le Tour de Langkawi after more than two decades of absence with six of the country’s grizzled road cyclists seeing action in the eight-stage Hors category event that starts Sunday, Sept. 29, on Langkawi Island in Malaysia.
Read more »
Revolutionizing PHL real estate with a secure and integrated digital platformManila, Philippines – September 2024 – The Philippine real estate industry is undergoing a digital transformation with the launch of REPHIL.APP, a comprehensive platform designed to streamline property transactions for everyone involved. REPHIL.
Read more »
Eaton appoints VSTECS as authorized distributor for UPS portfolio in PHLMANILA, PHILIPPINES– Intelligent power management company Eaton today announced the appointment of VSTECS Phils., Inc. as the authorized distributor of its uninterruptible power supply (UPS) solutions in the Philippines.
Read more »