THE Department of Energy (DoE) said it is evaluating various marine renewable energy technologies.
Marissa P. Cerezo, director of the Renewable Energy Management Bureau, said in a virtual briefing on Wednesday that the Philippine clean energy strategy will involve harnessing ocean energy.
Michael Lonchivar Sim Abundo, director of Ocean Pixel Pte. Ltd., said at the briefing that the marine renewable energy segment includes marine biomass and tidal energy, and called for them to be part of the Philippines’ renewable energy transition.
“We just have to find a way around the financial and regulatory barriers,” John Cotton, senior program manager of the Southeast Asia Energy Transition Partnership said.
The DoE in November opens the renewable energy sector to full foreign ownership after the “impressive amounts” of interest from local and foreign investors in renewable energy development.
Secretary Raphael P.M. Lotilla has said that the Energy department is looking for potential partners to develop clean energy sources like hydrogen and ammonia fuel.
The Philippines is targeting to increase the share of renewable energy to 35% of its energy mix by 2030 and 50% by 2040. Currently, the share of renewable energy in power generation is 22%. — Ashley Erika O. Jose