Mindanao, with the Davao Region spearheading the way, is poised to become the energy hub of the Philippines as the country takes strides to transition to less carbon emissions and more renewable sources of energy in its power supply grid.
“Investments in the Davao Region have become so robust and diverse over the years. Sectors from agri-business, manufacturing, tourism, real estate, and more have received much attention from both Filipino and foreign investors. This has helped the region post consistently strong GDP growth for the last decade,” said Davao ICon 2021 chairperson Ricardo Lagdameo.
The webinar, entitled “Mindanao as the Energy Hub in the Country, Davao Region as the Corridor,” was organized by the Davao Investment Conference (Davao ICon 2021) as part of its year-long Innovation Series.
Anton Perdices, chief operating officer of distribution utilities at Aboitiz Power, highlighted the vast resources available in Mindanao that prime it to become a key source of renewable and sustainable energy for the country.
“All the resources in the region combined together really does give the advantage to Mindanao, to be able to lead the forefront for investments, and the power will follow with that. We have plenty of supply currently in Mindanao to support the growth in the industries,” Perdices said.
In response to a question about the shifting to a more sustainable energy mix, Rolando Joson Paulino Jr., President of the Philippine Energy Independence Council (PEIC), highlighted the importance of considering the intermittent quality of renewable power sources.
“We need to transition in a more evolutionary way. If we want to really go for a renewable business in the future, we also need to be ready with power plants that can come in whenever these renewable sources are not available,” Paulino said.
John Eric Francia, President and CEO of AC Energy Corporation, shared the potential of Mindanao as a net exporter of energy through the development of a more interconnected grid, especially as the Green Energy Option launches in Luzon and Visayas.
“Once you unlock that potential through the spot market, retail competition, and open access, then it will spur a lot of renewable opportunities,” Francia said.
“We have a number of huge energy-intensive customers looking to invest and build plants in the region. Davao is proving to be a very good area to invest in for energy,” added Rodger Velasco, President & Chief Operating Officer of Davao Light & Power Company.
Dr. Antonio Gabriel La Viña, Energy Collaboratory Director of the Manila Observatory, underscored that the shift toward renewable energy should be done sooner to meet the nation’s commitment in addressing climate change.
“The Philippines has voluntarily committed to a 75 percent reduction of greenhouse gas emissions by 2030, meaning we can no longer increase emissions by 2030. We need to have a very fast transition,” La Viña added.
The Innovation Series continues with two more webinars that tackle the Mindanao market and the future of logistics. To stay updated and find out how you can join these upcoming events, follow the Davao ICon FB page here: www.facebook.com/davaochamber