PH looking at Chinese investors for cooperation on nuke energy

The Philippines is banking on Chinese investors to participate in the planned venture into nuclear energy, along with cooperation in other areas such as renewable energy, the Department of Energy said Monday.

The briefing was made after a state visit by President Ferdinand “Bongbong” Marcos Jr. to Beijing, China last week, where Malacañang said he secured $13.76-billion worth of investments in the energy sector. The government targets to increase the share of renewable energy to 35% of the country’s power generation mix by 2030, and hike this to 50% by 2040. This includes offshore wind, waste-to-energy, expanded rooftop solar programs, as well as ocean and tidal stream energy.

Malacañang last week said the government is set to update its nuclear energy roadmap, with Marcos pushing for its adoption in a bid to lower power rates.

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