The Duterte's Administration is moving towards the speedy development and implementation of infrastructure to increase the country's global competitiveness. In line with this, the Department of Energy (DOE) is pursuing initiatives to ensure affordable, reliable, modern and sustainable energy. The country envisions that 43 GW additional capacity will be required by 2040 to meet the growing power demand.
The DOE intends to implement consumer-based and investor-friendly policies coupled with the three-pronged approach driven by incentives, investments and innovation to achieve energy security and sustainability. Investments will play a vital role in realizing the infrastructure goals. With the existing supportive regulatory framework, competitive incentives and transparent market structure, the Philippine energy sector is open and ready for business.
In addition to our efforts in creating a conductive investment climate, we have prioritized reforms to streamline the regulatory process in the approval of energy projects. Recently, Executive Order No. 30, a series of 2017 created the Energy Investment Coordinating Council (EICC) which will ensure a simpler and faster process with the removal of existing hurdles to private-sector investment.
Investments in the Energy Sector
The Philippine Energy Sector adopts a technology neutral policy and encourages investors to be part of the country's energy development to fuel the dreams and aspiration of the next generation.
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