Philippines

The Aparri Bay and Guimaras Strait projects could produce over 1.2GW.

It previously inked a deal with Russia’s Rosatom for a pre-feasibility study.

The rapid drop in the cost of renewable energy is reshaping the world’s energy systems. Part and parcel of this shift, a new landscape is emerging among finance and power companies. Southeast Asian conglomerates such as Ayala are at the forefront.

The grid utility rejected inspections since 2017 even as operations are to be controlled by the Philippine government.

It bought a 67% stake in the wind farm for $53.16m.

The firms operate two solar farms with 80MW and 45MW capacity.

Manila Electric was the largest issuer in the region with 2.9GW procured from three tenders.

It may also benefit from a tightening power supply-demand dynamics in 2022.

The two made a joint investment of $30m in line with the development.

Electricity bills in the country are amongst the highest in SEA at $0.20 per kWh.

1GW of capacity will be allotted for renewables.

It is expediting programmes like the renewables portfolio standard.

Power distribution utilities will be mandated to source a minimum portion of energy from renewables.

The project will go through a pilot test for 10 months and serve house load requirements by the Magat reservoir.

It is working with a portfolio of sectors in the country to invest in low-carbon energy to meet the country’s power demands.

The parties aim to provide a small-scale power system to provide stable power supply to off-grid areas.