ACEN CORP. said the Philippines should accelerate renewable energy development rather than expand coal use, citing energy security concerns.
“We can’t depend on coal saving the day in terms of energy security and so forth. We still need to make sure that we accelerate the scale-up of renewable and energy storage,” ACEN President and Chief Executive Officer Eric T. Francia told reporters last week.
He said expanding coal-based power generation faces challenges, particularly in securing financing and gaining social acceptance.
Energy Secretary Sharon S. Garin said the Department of Energy (DoE) is “considering” the possible lifting of the five-year-old coal moratorium to cushion the impact of high fuel prices, which could drive up electricity costs.
“In times of crisis, coal remains one of the cheapest options we have for power generation,” she said at a briefing last week.
“Our teams are already studying this, and we are open as far as coal is concerned.”
In 2020, the DoE issued a moratorium on the development of new coal-fired power plants, except for projects that meet certain conditions for non-coverage.
Coal remains the dominant source in the country’s power mix, accounting for more than 60% of electricity generation, followed by renewables and natural gas.
Mr. Francia said the Philippines should instead accelerate renewable energy development, which he described as central to the country’s long-term energy strategy.
“I’d like to believe that we need to double down on renewables and energy storage, even if it sounds like a self-serving statement,” he said.
ACEN has about 7 gigawatts of attributable renewable energy capacity, including operational, under-construction, and committed projects.
The company has presence in the Philippines, Australia, Vietnam, India, Indonesia, Laos, and the United States. — Sheldeen Joy Talavera
