MANILA — President Ferdinand R. Marcos Jr. on Thursday expressed openness to exploring technologies that would help augment the power supply in the Philippines.
This, after Japan's Energy for a New Era (JERA) Co. Inc. president Satoshi Ondoa, in a meeting with Marcos at the Okura Hotel in Tokyo, said the power generation firm is working with Philippine-based Aboitiz group to train their engineers for the development of technologies that would be beneficial to both parties.
Marcos noted during the meeting that the new technologies that the two private firms are promoting are "very important."
"I do not need to illustrate or to explain the critical situation around the world when it comes to fuel, fuel supply, supply chain problems. All of these are requiring a great deal of thought for the planning for the Philippine side so as to be able to ensure that our... aspirations for development are well supported by an adequate power supply," the President said.
"And we, like most countries, we are very much in the middle of the process of moving from the traditional to the renewables. Now, the traditional renewables we all know [include] solar [and] wind. Now, there are hydroelectric, now there are some other new technologies coming in," Marcos added.
Marcos said the Philippines needs the development of new fuels to ensure that the country has adequate energy supply.
He also expressed optimism about the Philippine government's active participation, once the collaboration between JERA and the Aboitiz power firms results in the transfer of technology.
"I suppose now they really have been discussing the interim – what we are doing in the interim until renewables can take the whole – can be able to provide rather the entire demand of the Philippines and beyond," the President said. "Of course, the investment is important, but the transfer of technology is also extremely important and that will give the Philippines a self-sufficiency, which we have been missing."
The use of renewable energy is among the top priorities of the Marcos administration, and has been implementing policy reforms aimed at helping the country increase the share of renewable energy in the energy mix to 35 percent by 2030 and to 50 percent by 2040.
Marcos also cited his administration's planned transition from using ammonia to green hydrogen.
He said it is imperative to explore different options and be prepared for future developments, especially with the issue of clean renewable energy sources.
Satoshi told Marcos that JERA and the Aboitiz group led by Sabin Aboitiz, who also serves as the lead convenor of the Philippines' Private Sector Advisory Council, support the growing Philippine economy.
He also assured the Marcos administration of stable supply of liquefied natural gas (LNG) to sustain the Philippines' economic growth.
"In order to support the Philippines... which the economy is growing at a rapid pace, in order to secure a stable supply, we are working with Aboitiz and Sabin-san’s team in many fronts," Satoshi told President Marcos.
"And I may have mentioned this back in June as well however, we are procuring more than 30 million tons of LNG per year. Therefore, we will be able to contribute to the Philippines in the supply of LNG as transition fuel," he added.
JERA is considered as one of the largest power producers in the world.
According to its website, JERA continuously seeks to actively develop integrated gas-to-power projects that cover fuel procurement through power generation, as well as large-scale renewable energy projects to meet the needs of different countries and regions. (PNA)