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PHL keen on Norwegian RE tie-ups — envoy

THE PHILIPPINES has expressed interest in working with Norwegian energy companies in developing renewable energy (RE) sources, the Philippine Embassy in Oslo said on Monday.

At a forum on the Norwegian RE industry earlier this month in Oslo, Philippine Ambassador to Norway Enrico T. Fos pitched Southeast Asia as rich in untapped renewable energy sources that can provide affordable alternatives to fossil fuels.

The Philippines aims to raise RE’s share in the power generation mix to 35% by 2030 and 50% by 2040. Renewables currently account for 22% of the mix.

More than a dozen Norwegian RE companies participated in the networking event.

Mr. Fos cited the Philippines’ recent opening up of RE to full foreign ownership, allowing such companies to explore for and develop solar, wind, biomass, ocean or tidal energy.

Norway’s electricity grid is 98% powered by renewable resources, with 92% consisting of hydropower, according to the International Energy Agency.

President Ferdinand R. Marcos, Jr. has said that his administration aims to attract more investment in RE to fast-track the Philippines’ green transition.

“The forum was an auspicious occasion for dialogue and networking on the renewable energy prospects in the Philippines and in the ASEAN region given Norway’s global leadership in the energy sector,” the Philippine Embassy in Oslo said. — John Victor D. Ordoñez