Additional capacity from renewable energy (RE) power plants is augmenting the country’s supply to meet rising needs.
During the recent Philippine Electric Power Industry Forum 2024 at the Iloilo Convention Center in Iloilo City, Aboitiz Renewables Inc. president Jimmy Villaroman said they are supporting energy transition with RE projects in the pipeline.
“Our initial expansion phase focuses on developing mostly solar and wind plants with up to 1,200 MW (megawatts) capacity. Currently, we are on track for 176 MW of RE projects to come online by the first half of 2024, with construction ongoing for an additional 218 MW,” Villaroman said in an interview over the weekend.
He added that the second phase of Aboitiz Power Corp.’s expansion will be an additional capacity of 1,700 MW of solar and wind power.
Villaroman said AboitizPower backs the government’s energy transition by building a total of 4,600 MW of renewables capacity by 2030.
Until 2040, peak electricity demand is projected to increase yearly by 6.6 percent. In the same year, the government targets RE share to energy mix to be at 50 percent.
“Unlike some developed nations, our transition in the Philippines, as in the rest of Asia and the Pacific, must be gradual and intelligent. It has to be well-planned; uniquely suited to each country,” Villaroman said.
He said the solutions they devise cannot happen overnight “and might take years, if not decades, to realize.”
While transitioning to clean energy, Villaroman noted that leveraging the existing and conventional baseload plants will help in energy security in the medium term to support the government’s economic growth target.
He also commended the government by introducing policies that will boost the RE sector.
“The introduction of the Renewable Energy Act and the Green Energy Auction Program have spurred the development of clean energy sources, fostering a more diverse and secure energy mix,” he said.*PNA
