Energy Secretary Jose Rene Almendras said Sunday the government has attracted investments in the energy sector during the ongoing visit of President Benigno Aquino III to the US.
“Yes, there are energy deals but President Aquino will make the announcements,” the energy chief said in a text message to reporters.
The department has been wooing investors to finance power generation projects that will secure the government’s long-term energy requirements.
The Philippines needs around 16,550 megawatts of additional capacity by 2030, including 11,900 MW in Luzon.
The additional capacity will require an investment of $24.825 billion between now and 2030.
Almendras said Visayas would need 2,150 MW of additional capacity up to 2030 at an average annual peak demand growth of 4.6 percent.
Mindanao will need 2,500 MW up to 2030. Almendras “only 100 MW of new capacities are expected to come in” in the area.
Almendras recently sought for support from financing institutions such as the World Bank to fund energy projects, especially renewable that are more expensive to build.
Almendras sought 20-year loans to the private sector engaged in renewable energy.
“We’re trying to talk to our friends in the World Bank, the USAID. I would really like to see 20-year money available to energy investments,” Almendras told a recent investment forum in Cebu.
No comments:
Post a Comment