Foreign govts eyed in retirement of coal plants

Finance Secretary Carlos Dominguez 3rd is looking into how foreign governments might be able to help the Philippines speed up the decommissioning and repurposing of its coal-fired power plants, particularly where foreign companies have a significant stake in their continued operation, according to the Department of Finance (DoF).

In a statement on Monday, the DoF said Dominguez discussed the prospect of foreign governments buying out the shares of their nationals who own significant stakes in companies that operate coal-fired power plants in the Philippines.