New Gekko UI in the works

[christopher2021]

According to a report by the Phlistar on April 8, think tank Fitch expects the Philippines to accelerate the process of decarbonizing the power sector to match the shift in energy policy, thereby stimulating investor interest and investment in the renewable energy sector. Data from the Fitch Infrastructure Critical Projects database shows a notable increase in large-scale solar projects in the Philippines this year, including projects worth more than $30 million. Fitch said the growth in investor interest in the renewable energy sector was largely driven by an improved regulatory environment for the sector. In the latest draft of the National Renewable Energy Plan (2040), the Department of Energy has set a new target to achieve 35% of the electricity mix by 2030, and increase the proportion to 50% by 2040. The Philippines has now joined the Asian Development Bank’s Energy Transition Mechanism (ETM) project, which aims to acquire existing coal-fired power plants across Asia and decommission them by the end of their operating cycles. Nonetheless, Fitch still expects coal power generation in the Philippines to dominate, accounting for 61% of the power mix by 2031.