AboitizPower Calls For Stakeholder Cooperation

During the recent Energy Smart Forum 2024 hosted by European Chamber of Commerce of the Philippines (ECCP), AboitizPower Chief Investment Officer Joseph Lacson emphasized the critical need for strengthened cooperation among stakeholders to create an investment-friendly environment that will drive the progress of renewable energy projects in the Philippines.

AboitizPower Chief Investment Officer Joseph Lacson discusses the importance of stakeholder collaboration for advancing renewable energy projects in the Philippines at the Energy Smart Forum 2024 recently held at the Dusit Thani, Makati. | Photo: AboitizPower

Lacson highlighted the importance of a multifaceted approach in successfully transitioning to a renewable energy future, noting that the path to such a transition is fraught with challenges, including regulatory hurdles, uncertainty in the business landscape, and a shortage of skilled professionals.

In his address, Lacson pointed out that the responsibility of energy transition extends beyond power producers.

"A robust policy framework that encourages investment and innovation is paramount," he stated, underlining that banks and financial institutions play a catalytic role in driving these investments.

Moreover, the public sector is essential for ensuring community involvement and addressing policy and regulatory concerns, thus serving as the cornerstone of any successful energy transition.

Lacson also stressed the importance of continuous research and development from academic institutions, scientists, and industry professionals to enhance the competitiveness and efficiency of renewable energy technologies.

He highlighted the role of the transmission and distribution sectors in modernizing and expanding grid infrastructure to meet the evolving needs of power consumers. Given the projected annual growth rate of 5.19% in peak electricity demand, Lacson emphasized that energy security must also be accounted for.

This would require a balanced utilization of traditional energy sources such as coal and natural gas alongside renewables.

AboitizPower is actively supporting the Philippine government’s renewable energy targets by expanding its generation portfolio, which includes over 1,000 megawatts of solar, hydro, geothermal, wind, and energy storage projects.

The company recently energized the 159-MWp Laoag Solar Power Plant, the 94-MWp Cayanga-Bugallon Solar Power facility in Pangasinan, and the 17-MW Tiwi Binary Geothermal Power Plant in Albay.

Additionally, the company is progressing with the 173-MWp Calatrava Solar Project in Negros Occidental, the 45-MWp Armenia Solar in Tarlac, and the 212-MWp Olongapo Solar in Zambales.

As one of the Philippines' largest power producers, AboitizPower is committed to uplifting the lives of Filipinos by actively contributing to the country's renewable energy goals.

Lacson concluded his remarks with a call to action: “From projects of massive scale to rooftop solar, we aspire to make this energy transition work, hand-in-hand with stakeholders, end-users, and the government.”