Published
By Myrna M. Velasco
Investors from across
continents had swamped an annual major event bullishly looking for investment
opportunities in the energy sector across industry and technology chains.
At the opening ceremony
of the Powertrends Conference and Exhibition at the SMX Convention Center,
representatives from various embassies with their business contingents were in
the event on the lookout for prospective ventures in the country.
This year’s energy
conference delved with a suite of technology options that investors could opt
for in the industry investments – from power generation focusing generally on
renewable energy (RE) to innovative applications like electric vehicles,
internet of things (IoT) as well as digitalization in the whole chain of the
industry.
In attendance have been
Denmark Ambassador Jan Top Christenses, Canada Ambassador John T. Holmes,
Myanmar Ambassador Wan Naing, United Arab Emirates Ambassador Hamad Saees
Alzaabi, Saudi Arabia Ambassador Addullah N.A. Al Bussairy, Singapore
Ambassador Kok Li Peng and Spanish Embassy Economic and Commercial Counsellor
Pedro Pascual representing Ambassador Luis Calvo.
The other trade and
diplomatic offices represented have been the British Embassy, New Zealand,
Cambodia, Hungary, Brazil, Singapore, Japan and the Japan External Trade
Organization (JETRO), Indonesia and Mexico.
According to the
conference organizers, many foreign investors have swamped this year’s energy
event because they are in search for investments according to the preference
and technology applications of companies coming from their respective
countries.
Basically, the
Philippines is at the center of attention of the world for several reasons – it
is into its vital transition into its more massive rollout of more RE installations,
that will be in keeping with the government-underpinned Renewable Portfolio
Standards (RPS).
That new policy for the
RE sector targets an installation of 15,300 megawatts until year 2030 (either
solar, wind, biomass, tidal or waste-to-energy facilities) – and it is an
investment regime following the country’s exit from the feed-in-tariff (FIT)
scheme.
The Philippines is
similarly on its gas industry reset – primarily in the power sector, paving the
way for required installation of a liquefied natural gas (LNG) terminal, an
area that could also be a ‘good capture point’ for new energy investments.
Digitalization as well
as the emerging trend being propagated by blockchain, or the distributed ledger
of trading electricity, are other spheres that are also being explored both by
visionary and information technology (IT)-enabling investors.
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