DOE dangles power projects to Asean funders

The Department of Energy (DOE) is inviting Association of Southeast Asian Nations (ASEAN) investors in the Philippine power sector as the administration’s massive infrastructure program would require a huge amount of energy supply.

DOE Secretary Alfonso Cusi said there is a big business opportunity in the Philippines’ energy sector investors from the ASEAN can take advantage of.

“We’re inviting energy investors from ASEAN. The ASEAN summit is an opportunity for us to drum up to our neighbors that there is this development happening in the Philippines and they can participate,” he said. “We’re going to build the energy supply for the infrastructure.”

Cusi said the investment opportunity is open for all and the DOE will not put a cap and quota on the energy source of choice.

“I’m sure there will be entrants, particularly those who can offer the best for the Philippines and those who can provide the supply in the cheapest and most efficient way,” he said.

The Energy chief said the potential business opportunity in energy is the result of the government’s ambitious infrastructure program dubbed “Build Build Build.”

The Duterte administration recently unveiled a three-year rolling infrastructure program amounting to P3.6 trillion from 2018 to 2020, dubbed as the country’s “golden age” of infrastructure.

“From 2016 to 2030, 17,300 megawatts is needed to support the Ambisyon 2040 development plan of the government for the Philippines,” Cusi said.

“An additional power of 26,000 MW from 2030 to 2040 or a total of 43,000 MW from 2016 to 2040 is needed to support the infrastructure projects,” Cusi said.