DEPARTMENT of Energy (DoE) Secretary Alfonso Cusi said Thursday there are big business opportunities in the Philippines’ energy sector that investors from the Association of Southeast Asian Nations (Asean) can take advantage of.
“We’re inviting energy investors from Asean. The Asean Summit is an opportunity for us to drum up to our neighbors that there is this development happening in the Philippines and they can participate,” Cusi said after attending the Wallace Business Forum at the Shangri-la Hotel, Makati City.
Cusi said the potential business opportunity in energy is the result of the government’s ambitious infrastructure program dubbed “Build, Build, Build!”
According to Cusi, power will be needed to support the infrastructure projects of the government under its long-term development vision dubbed “Ambisyon Natin 2040.”
From 2016 to 2030, he said 17,300 megawatts of capacity will be needed to power growth and another 26,000 MW from 2030 to 2040, or a total of 43,000 MW over that entire period, and investments will be needed to generate all of that energy requirement.
“The investment opportunity is open for all and the DoE will not put a cap and quota on the energy source of choice,” said Cusi.
“I’m sure there will be entrants, particularly those who can offer the best for the Philippines and those who can
provide the supply in the cheapest and most efficient way,” he said.