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The Department of Energy (DOE) and the British Embassy Manila organized the second Energy Transition Council (ETC) National Dialogue on Tuesday in collaboration with the Asian Development Bank, the Southeast Asia Energy Transition Partnership and the United States Agency for International Development. 22 November 2022.
The Philippines is one of the participating countries of the ETC, an initiative launched in 2020 as part of the UK COP26 Presidency. The ETC provides a platform for solutions-based discussions and coordination between countries that need support for their energy transition and key international donors and organizations that provide support. Since the first national dialogue in March 2021, donor support for six priority TA projects related to ancillary services, energy labelling, ocean and thermal energy, smart grid and energy storage systems and offshore wind has been mobilized through the rapid response facility, ETC’s technology. Aid coordination mechanism.
The 2022 National Dialogue focuses on the country’s policy direction and priority investments in clean energy and emerging technologies, such as offshore wind, hydrogen and energy storage systems, aligned with the administration’s push for greater use of indigenous and renewable energy sources. With the country’s abundant natural resources, there is a huge potential for harnessing renewable energy. According to Undersecretary Felix William Fuentebella, “[The ETC] It’s very important because it’s the platform of all the forums – it’s the one that basically coordinates all of us, all the partnerships, towards one goal to make sure that we comply with our obligations under the UNFCCC.”
Renewable energy solutions are more widely available, cost-competitive and technologically proven, making them good business opportunities. Following the issuance of the Department of Justice’s opinion to relax the 60:40 foreign equity limit on renewable energy sources, the DOE shared that they have amended the implementing rules and regulations of the Renewable Energy Act of 2008 to allow 100% foreign capital in RE projects, which The sector is expected to attract foreign investment.
Senior government officials, representatives of the diplomatic community and donor organizations, CSOs and other key energy stakeholders attended the dialogue in support of the country’s power transition goals. British Ambassador Laure Beaufils said in her opening remarks, ‘Today’s Energy Transition Council is about bringing the international community and the private sector together to support the Philippines’ renewable energy transition. ETC’s Rapid Response Facility (RRF) matches commercial, regulatory and policy assistance needs arising from ETC dialogues to match existing programs or additional technical assistance.”
ETC also welcomed next year’s roster of ETC co-leads, such as the Royal Danish Embassy, GIZ (German Development Agency), and the World Bank to work closely with DOE and ETC to identify, coordinate, and implement targeted actions in specific energy sectors. areas like energy efficiency, clean energy and reliable energy system respectively to accelerate energy transition in the country. As co-lead of the Energy Efficiency Working Group, Danish Ambassador Franz-Michael Melbin emphasized that the Philippines has every opportunity to decouple future growth from energy consumption and highlighted energy efficiency as the first fuel to achieve energy security.
For more information, please contact:
Josephine Orens
British Embassy Manila
Josephine.Orense@fcdo.gov.uk
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