Energy Secretary Raphael Lotilla said the companies responded positively to the country’s renewable energy policy directions. These companies conveyed their interest to invest in the Philippines to President Ferdinand Marcos Jr. during a roundtable meeting on Jan. 5.
Lotilla said during the meeting the Marcos administration aimed to attain 35-percent RE share by 2030 and 50-percent by 2040. He said an additional 52,000 megawatts of renewable energy would be needed by 2040 to meet the country’s goals. About 27,000 MW will be from solar and another 16,000 MW from wind, excluding the country’s total offshore wind potential of about 178,000 MW.
Energy China’s projects, located in Northern Luzon, provide power generation, substation, transmission, cell site and fiber-to-home and data center projects. CMEC, a subsidiary of the China National Machinery Industry Corp., is among the world’s top 500 companies.
after that? what was the real intention of this all of a sudden investment?
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