- The 2022 National Dialogue focused on the country’s policy direction and priority investments in clean energy and emerging technologies.
- Renewable energy solutions have become more widely available, cost-competitive and technologically proven, making them good business opportunities.
On Tuesday, The Department of Energy (DOE) and the British Embassy in Manila, in collaboration with the Asian Development Bank, South East Asia Energy Transition Partnership and the United States Agency for International Development, hosted the second Energy Transition Council (ETC) National Dialogue. The 2022 National Dialogue focused on the country’s policy direction and priority investments in clean energy and emerging technologies, such as offshore wind, hydrogen, and energy storage systems, which are aligned with the administration’s push for increased use of indigenous and renewable energy sources.
The Undersecretary, Felix William Fuentebella, said, “It is very important because it is the forum of all forums. It is the one that coordinates all of us, all the partnerships towards one goal in making sure that we comply with our obligations under UNFCCC”. Renewable energy solutions have become more widely available, cost-competitive and technologically proven, making them good business opportunities.
Following the issuance of the Department of Justice’s opinion easing the 60:40 foreign equity limitation on renewable energy sources, DOE shared that they have amended the implementing rules and regulations of the Renewable Energy Act of 2008 to allow 100% foreign capital in RE projects, which is expected to attract foreign investments into the sector. The ETC also welcomed next year’s roster of ETC co-leads, namely the Royal Danish Embassy, GIZ (German Development Agency), and the World Bank, to work closely with the DOE, and ETC in identifying, coordinating and implementing targeted measures in specific energy sector areas, namely energy efficiency, clean energy and reliable energy systems respectively, to help accelerate the energy transition in the country.