DOE, USAID partner to promote private investments in energy

DOE, USAID partner to promote private investments in energy

MANILA – The Department of Energy (DOE) and the United States Agency for International Development (USAID) have partnered to increase private investments in advanced energy technology to ensure energy security in the country.

The DOE and USAID kicked off Wednesday the three-day Energy Secure Philippines (ESP) activity co-design workshop, which aims to promote private investments in the energy sector.

“The US remains a solid ally and one of the country’s major trading partners. We are hopeful that our collaboration to promote energy security and development will be sustained and even enhanced,” DOE Secretary Alfonso Cusi said.

The virtual workshop between DOE and USAID will set the targets and strategies for the ESP, update tasks and interventions of the government to lure energy investments from the private sector, identify potential partnerships under ESP, and improve the implementation of the program.

“This activity comes at an opportune time for the energy sector as it plays a crucial role in promoting sustainable economic development, especially now that the country is gearing to recover from the Covid-19 (coronavirus disease 2019) pandemic,” he added.

Cusi said the ESP will also help the country in deploying advanced energy technology and boost energy resiliency.

“We anticipate that the project will contribute to our shared goals with the US government’s Asia-Enhancing Development and Growth through Energy or Asia-EDGE Initiative to help combat poverty and foster economic progress,” Cusi added.

Joining the ESP workshop are representatives from the National Transmission Corporation, National Electrification Administration, Energy Regulatory Commission, National Economic and Development Authority, Department of Environment and Natural Resources, Climate Change Commission, Mindanao Development Authority, National Grid Corporation of the Philippines, and the Philippine Competition Commission. (PNA)

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