40 European firms eyeing energy investments in Phl

Some 40 European firms are scheduled to visit the Philippines this month to look at possible investments in the energy sector, the European Union (EU) Delegation to the Philippines said Thursday.

"That will be 40 firms from 13 different EU countries," EU Delegation to the Philippines head of cooperation Enrico Strampelli told reporters in Makati City.

Representatives of energy companies in the EU will arrive later this month to attend a forum in Manila.

"Basically, the subsectors in which they are working in are solar generation, hydropower, wind power," Strampelli noted.

A number of companies are also in the electronic vehicles business.

"The idea is to try to assist and even increase the number of electric vehicles, especially for Manila and in the Philippines in general," Strampelli said.

In June, the founding members of the Association of Southeast Asian Nations signed a memorandum of agreement on establishing the ASEAN Federation of Electric and Hybrid Vehicles Association.

The agreement entails supporting regulatory alignment in electric and hybrid vehicle standards in the country, in the region, and in the world.

The EU Delegation to the Philippines said it is about to sign at least four contracts with a combined value of €11 million to electrify farflung areas in the country.

Philippine companies will provide access to electricity to certain areas in Mindanao of which three are totally unconnected to any source of electricity, EU Delegation to the Philippines head of cooperation Enrico Strampelli said in a press conference in Malatiy City.

"We have full pledges. We have three in Mindanao for access to electricity. The focus is in Mindanao," he told reporters.

Strampelli did not give further details but said they will be spending the next few weeks finalizing the contracts.

"I think we can say we are an active partner of the Philippines when it comes to sustainable energy," he said.

"We are supporting, through ASEP, the Philippine government's goal of universal electrification. We hope to bring clean energy to remote islands and marginalized communities," he noted.

Under ASEP or Access to Sustainable Energy Programme, the EU is financing Philippine efforts to expand energy generation in meeting the growing demand for power.

It aims to fulfill the target of providing access to electricity to 100 percent of the Philippines by 2022.

(GMA News Online)