Philippines rounding up funding to support sustainable energy shift

Philippines rounding up funding to support sustainable energy shift
BusinessWorld
3 hrs ago
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THE Department of Finance (DoF) said it is currently in talks with various development partners such as the Asian Development Bank (ADB), the UK government and the World Bank to support the Philippine energy industry’s pivot to renewables.
Paola Sherina A. Alvarez, assistant secretary and DoF spokesperson, said the department is currently working with the ADB for pilot implementation of the Coal Replacement Fund. She gave no details.
Finance Secretary Carlos G. Dominguez III said in April that the government may have to set up a fund to acquire all power plants in Mindanao and eventually shut them down while the generation capacity of the Agus-Pulangi hydropower plant increases.

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