DOE Seeks More Power Investments in Mindanao

Wazzup Pilipinas!

INVESTMENT DIALOGUE: Participants of the Department of Energy's (DOE) investment forum aired their questions about the regulatory processes, policies, financing and benefits, among other concerns about energy projects in Mindanao. The open forum panel was composed of DOE USec. Felix William Fuentebella, DOE Asec. Redentor Delola, Mindanao Development Authority ASec. Romeo M. Montenegro, Philippine Electricity Market Corporation's  Clares Loren C. Jalocon, National Grid Corporation of the Philippines' Fernando S. Javier, Department of Environment and Natural Resources Director Metodio U. Turbella, Banco De Oro's Joseph Rhoderick B. Lledo and Alsons Energy Development Corporation's Joseph C. Nocos.  Spearheaded by the DOE-Investment Promotion Office, the Mindanao Energy Investment Forum was held in Davao City on Thursday (11 October) to present business opportunities and parameters in dealing with national and local government regarding the industry.

In line with the Department of Energy’s (DOE) goal to promote robust energy development in Mindanao, its Investment Promotion Office conducted the Mindanao Energy Investment Forum (MEIF) on 11 October at the Grand Regal Hotel in Davao City.

The forum provided stakeholders with updates on energy investment opportunities in the region and facilitated discussions on industry best practices.

“A reliable, sufficient and affordable power supply all throughout the country is achieved through the formulation of more cohesive and responsive energy plans and programs. Vital to this endeavor is the partnership with our energy companies who have committed to put up their power plants on time and ensure continuous operation,” Secretary Alfonso G. Cusi said in his keynote address, which was delivered by Undersecretary Felix William B. Fuentebella.

Sec. Cusi also emphasized the importance of bringing in more investors into Mindanao given its projected additional capacity requirement of 10,200 megawatts by 2040.

Current projects and initiatives already in the pipeline for the region include the interconnection of the Visayas-Mindanao grids and the implementation of the Wholesale Electricity Spot Market.

The conference also tackled new investment policies, such as Executive Order 30 and the Ease of Doing Business Law, which streamlined regulatory procedures to ensure the faster realization of energy projects.

Anchored on the agency’s E-Power Mo campaign, the MEIF aims to strengthen the E-Secure principle on ensuring quality, reliable, resilient, and affordable energy services across the country. Engaging stakeholders in active dialogue would pave the way for proactive and harmonized planning, as well as proper energy project development operations.

“We all have a significant role to play in the energy industry – investors or energy developers, national and local government agencies, financing facilities including us - the consumers, in order for us to move forward as a one nation," Sec. Cusi concluded.