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Manila Bulletin devider Business devider DOE targets Emirati investments in clean energy infra

DOE targets Emirati investments in clean energy infra

Published Oct 18, 2024 06:10 am

The Department of Energy (DOE) has met with officials from the United Arab Emirates (UAE) to discuss potential collaborations in energy programs and developments. 

In a statement on Friday, Oct. 18, the DOE said the meetings aim to accelerate the Philippines' transition to renewable energy sources.

Energy Secretary Raphael P.M. Lotilla met with UAE's Minister of Energy and Infrastructure, Suhail Mohamed Faraj Al Mazrouei, to negotiate a memorandum of cooperation (MOC) that would outline potential collaboration activities. 

He also met with UAE's Undersecretary of the Ministry of Investment and the CEO of Masdar, a state-owned renewable energy firm.

The discussions focused on attracting Emirati investments in clean energy infrastructure and other sources.

 The DOE emphasized the investment opportunities available in the Philippine energy sector, particularly in renewable energy and other clean sources like hydrogen and nuclear.

The meetings follow a similar energy mission to Saudi Arabia. 

Other Philippine delegates, including representatives from Maharlika Investment Corp., ACEN Corporation, AboitizPower, Amber Kinetics, Citicore Renewable Energy Corp., and San Miguel Corporation Power Holdings, met with Masdar, Emirates Nuclear Energy Corp. (ENEC), and the International Renewable Energy Agency (IRENA).

Lotilla said the government committed to advancing clean energy transition through favorable policies and incentives that would attract both local and foreign investments. 

The Philippines is actively exploring hydrogen as an alternative fuel and has established the Hydrogen Energy Industry Committee to promote investments and technological developments in this area.

“Native or naturally occurring hydrogen primarily forms in two major geological environments: Precambrian crystalline shields and serpentinized ultramafic rocks found in ophiolite bodies. The latter is abundant throughout the Philippines,” the DOE explained.

Meanwhile, the nuclear developments in the country is pushing forward as the government’s priority legislation would ensure legal and regulatory frameworks that would safeguard public health, environment, and national security.

The DOE also reported the exploration of small modular reactors (SMRs) as baseload power sources needed especially by the off-grid areas with low electricity demand.

Additionally, a collaborative meeting was held with Masdar, Abu Dhabi investment firm Lunate, and AMEA Power to work on renewable investments, infrastructure, and other key areas.

“The DOE extends its gratitude to the Department of Foreign Affairs, chargé d’ affaires of the Philippine Embassy in Riyadh, Rommel Romato, the Philippine Embassy in the UAE led by Ambassador Alfonso Ferdinand A. Ver and Consul General Marford Angeles of the Philippine Consulate General in Dubai, Ambassador Mohammed Obaid Alqattam Alzaabi of the UAE Embassy in Manila, as well as the Department of Trade and Industry and the Philippine Trade and Investment Center, for their support in facilitating this mission,” the DOE added.

Related Tags

Department of Energy (DOE) United Arab Emirates
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